Gmp has a diversified portfolio of office buildings and business parks, comprising both single tenant and multi-tenant properties.
The assets located inside the M-30 ring road have very heavy weight and account for 75% of the valuation. Most of them are in prime locations in Madrid’s Central Business District (CBD).
Between 2014 and 2017 Gmp conducted intense investment activity which brought a significant increase in area in its office building portfolio. At the end of financial year 2017, the value of the new buildings acquired in the period 2014-2017 accounted for 22% of GAV and 28% of total area.
As of 31st December 2917, the Company had one asset under development: Oxxeo, an office building project located in Las Tablas. This asset under development accounts for 4% of GLA and 2% of GAV. On the same date, the two major renovations Gmp undertook at the end of 2015, Castellana 81 – one of the assets in its historical portfolio – and Castellana 77 – acquired in the same year – had been completed. Only the top five floors of Castellana 81 were still to be renovated, as they were occupied by BBVA until 31st December 2017. Work on them started in January 2018.