Martín de los Heros 6

Urbania strengthens its presence in Madrid with the acquisition of a new building in Argüelles in the proximity to Plaza de España which will undergo a complete refurbishment. Urbania therefore, continues its strategy of acquisition and improvement of key buildings in the most emblematic neighborhoods of Madrid.

Argüelles is a neighborhood in the district of Moncloa-Aravaca in the Western part of Madrid. It is in very close proximity to the center of the city and a very animated residential neighborhood with a large selection of stores, supermarkets, leisure areas, restaurants and cafes.

In addition, the neighborhood of Argüelles is especially favored by the large student population of Madrid. It’s close proximity to the Plaza de la Moncloa makes it an ideal residential area with large green areas, sports´ facilities and excellent access to public transportation.

The building is located in Calle Martín de los Heros 6 and offers six apartments and two commercial premises.

The total built area is 944 square meters. The building has been renovated extensively with the latest upgrade in 2012. Therefore, there are no substantial capital expenditures necessary and we will limit ourselves to conservation and improvement.

The strategy is to introduce a general improvement to the general communal areas and the apartments and then replace the existing rental contracts with a centralized tourist holiday housing management. This change in the management strategy will immediately increase the yearly revenu of the building and as a consequence the value of the building.