One of Madrid’s most iconic flag ship stores is reportedly up for grabs. The Díaz-Estrada family, of Mexican origin, own the building which houses the Apple store since 2014 and, according to El Confidencial, are currently in negotiation with various potential suitors.
The deal could fetch over €200 million and would imply an NIY of 2% to 2.5%, a yield that reflects its unique setting in the touristic centre of Madrid and the quality of the tenant.
The same family are also developing a new 173 room luxury hotel on numbers 25 and 27 of Calle Montera, a property which they purchased in 2013 for €34 million, and on numbers 29-31 which they bought in 2015 and used to be a cinema.
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