The Luxembourg Fund shaftesbury has managed to enter a land forbidden to developers, the exclusive neighborhood of the viso in Madrid. This firm is going to build a project of 50 luxury apartments in an area where there is hardly any new housing and what little there is is for self-development, by individuals who own the land.
Shaftesbury has acquired a old telephone exchange on Antonio Pérez street, next to Velázquez and Joaquín Costa and almost adjacent to the Masterchef restaurant. As of this January, the consultancy Knight Frank The commercialization of these apartments will begin, which will reach a price of three million euros for the most expensive penthouse.
The fund has commissioned the design to Touza Architectswhich has recently undertaken other relevant residential works such as Riverpark for Gestilar or Riverside for Neinor in Madrid Río or the Skyline towers for Stoneweg on Paseo de la Dirección.
The arrival of Shaftesbury to El Viso is a milestone in new construction in the area, which second-hand can have a price of around 8,000 euros per square meter, according to Knight Frank, although in certain more exclusive parts of the area the amount is can shoot.
El Viso, in the Chamartín district, is a neighborhood built at the beginning of the 20th century as a workers’ colony. With the extension of the Paseo de la Castellana to the north in the middle of the last century, this area began to be very well located and its small houses of humble origin skyrocketed in price. It is delimited to the south by María de Molina avenue, to the west by Castellana, to the east by Príncipe de Vergara and to the north by the Santiago Bernabéu stadium and Concha Espina avenue. The most exclusive area, of chalets, is between the streets of Velázquez and Serrano.
The businessman lives in El Viso Florentino Perez, who recently carried out a self-promotion of a block with several houses; also José María Aznar junior; former soccer player Xavi Alonso bought a house there, and Ana Botín (Santander) or Rafael del Pino (Ferrovial) have lived or live there, according to various media reports. According to the Urban Indicators index of the National Statistics Institute (INE), It is the richest neighborhood in the citywith an average annual income of 42,107 euros per person.
Unlike other poles that attract the rich such as La Moraleja (Alcobendas), La Finca (Pozuelo) and even the Salamanca district of the capital, El Viso does not usually have new developments from developers.
the dwellings
Shaftesbury’s future development will feature one to four-bedroom homes. The smallest apartment will be around 65 square meters at a price of 620,000 euros. The average amount will reach 13,000 euros per m². And the community will have a garage, storage rooms, bicycle parking, gym, sauna, swimming pool, garden and concierge.
The most expensive penthouse, with 245 m² (plus 68 m² of terraces) and four bedrooms, will cost 2,965 million. It will be located on the fifth floor with a double east/west orientation, terraces on both sides, a 40 m² living room, with a dressing room and bathroom in suite room in the master bedroom. In addition, the building will have another three penthouses with two bedrooms (at a price of 1.7 million) and another three with three bedrooms for up to 2.8 million.
A fund that landed with the work of the Antares tower
Shaftesbury Asset Management has recently carried out an emblematic project in Barcelona by building the antares tower at the end of the Diagonal, next to the coast. This 30-story project, now finished, was entrusted to the French architect Odile Decq and also marketed by Knight Frank. There, the most expensive penthouse reached nine million euros, according to what the Catalan press published. In that exclusive building, the fund still has units to sell.
This Luxembourg-based real estate fund has Philippe Camus as CEO and is based in Frankfurt (Germany) and Geneva (Switzerland). In Spain he has also made other investments such as the purchase of the Generali Building in the Plaza Nueva in Seville or the El Ferrol shopping center.
