Prada acquire a strategic location in the Golden mile of Madrid, Spain.

As a demonstration that the Spanish economy forecast is positive, many fashion Firms are battling for the acquisition of strategic points in Spain. 

Prada with the advice of Roca Junyent Madrid in the Tax side has acquired a strategic location in one of the best streets in Spain (Serrano Street) the price reached 59 million euros. It is an office located on Serrano St., in the heart of Madrid's golden mile, with an area of 908 square meters built on three floors. 

The transaction was signed at the end of April, and reached the level of 100,000 euros per square meter, the highest cost of land attributable to square metre for a commercial property in Spain.

The operation will boost the fashion market in Spain since it is expected that Prada’s competitors will answer this movement with similar acquisitions. 

This is especially significant since due to European central banks regulations Spanish Banks are willing to sell its entire real estate portfolio.