Conren Tramway has bought the site of Mercedes-Benz’s former factory in Barcelona’s Sant Andreu district.
The site was home to a Mercedes Benz manufacturing facility until 2007 and has 90,000m² of surface area with 180,000m² of building rights. Mercedes’ Spanish subsidiary was the seller and the former factory’s origins can be traced to the now extinct «Biada, Elizalde & Co» who were responsible for the creation of Spain’s first automobile in 1913.
The site is situated next to La Maquinista Shopping Centre in an area where Barcelona’s second AVE high speed train station is expected to open. Despite it being classified for industrial use, the buyers, will work on converting the use to residential in the coming years to satisfy the city’s growing demand for new homes.
Tramway Capital, which is owned by brothers Jaime-Enrique and Paco Hugas created a partnership with German fund Conren Land and bought their first property in 2016, an office development in calle Sancho de Avila 65, in Barcelona’s dynamic 22@ district. During 2017, they bought a 17,500m² building in Calle de Badajoz 97 and Endesa’s former HQ in the Avenida Paralelo with a GLA of 33,800m². In early 2018, Conren Tramway invested €150M in the acquisition of The Three Chimneys complex where they plan a 60,000m² refurbishment.
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