Yarrells Property has successfully negotiated an office lease of close to 7,000 square metres in the Can Ametller office project in Sant Cugat. The incoming Tenant Gas Natural Fenosa has consolidated its I.T. supplier park into the building from several buildings in Barcelona and the periphery. The business park has a total of 28,000m2, and fronts AP7 motorway, close to Sant Cugat shopping centre. It was completed in 2008 and is owned by a fund managed by AXA Real Estate.
This represents one of the largest office letting deals completed in Barcelona in 2014 and is good news for the periphery office submarket of Sant Cugat which has suffered from high vacancy rates after a series of developments completed at the end of the boom period have experienced very low take up in the past 5 years of recession.