Cushman & Wakefield has advised both the company and the owner of the building, MGS Seguros. Represents the only deal of this size in this area of Barcelona over the last twelve months
Following its merger with TGG Legal, RSM Spain has decided to relocate to another site in Barcelona. The audit, consultancy and legal and tax advisory firm will transfer its professionals to a single space at no. 543, Avenida Diagonal, at the junction with the street Calle Entença.
The property, with office floorspace amounting to almost 12,000 m², is owned by the Spanish firm MGS Seguros and has been the head office of that company since 1978.
Cushman & Wakefield, the worldwide leader in real estate services, acted as an adviser to both parties in this lease transaction, considered the largest in Barcelona’s prime zone over the last twelve months. Cushman & Wakefield had already provided advisory services to companies such as Everis and Asics, who now occupy the ground floor and part of the adjoining building.
Natalia Tost, Associate of the Business Space team in Barcelona, declared that “we are very satisfied to have advised RSM on its new location, representing one of the most important office lease transactions in Barcelona over the past year. Its location and characteristics make this property unique in Barcelona’s business district, in that it boasts not only an exceptional location, but also has recently undergone improvement, maximising the value of this symbolic tower block. This transaction completes the letting of the property, which is currently 100% occupied”.
Javier Bernades, Partner and Director of Business Space – Industrial & Offices Agency for Cushman & Wakefield Spain, comments that “with this transaction, only 22,000 m² of vacant office space is on offer in the prime zone along Passeig de Gràcia and Avinguda Diagonal. Of this, 12,000 m² corresponds to class A/B+ floorspace spread among 9 buildings, only six of which face onto Avenida Diagonal. We note a significant scarcity of quality floorspace in the area and this is pushing rents for the best properties upwards”.
The lack of space in the traditional business zone will drive the relocation of those companies needing floorspace to new business districts with quality buildings such as, for example, district 22@, where a number of projects have taken off in recent years and in which we are now seeing pre-letting deals.
RSM Spain is one of the main Spanish audit, consultancy and legal and tax advisory firms, with six offices throughout the country. David García, the firm’s vice president, considers that “relocation to the new offices is an essential step in integrating everyone and fits within our envisaged development and growth plan. It will enable all of our areas of professional practice to be located under the same roof, where our client-centred business can be performed in modern facilities with an ideal location”.
Lastly, Ramón Vilar, the Economic and Financial Director of MGS Seguros, comments that “monetising the significant property holdings of MGS represents one of the priorities of our financial strategy. Within this context, it is particularly satisfying for us that a firm as prestigious as RSM has chosen one of our most emblematic properties in order to continue developing its business in Spain”.