Banco Sabadell has revitalized the sale of its former headquarters in London, a building located at No. 120 Pall Mall, between Trafalgar Square and Piccadilly Circus, owned by the Catalan entity since 1896. Banking sources note that “the potential liquidation of the asset is part of the space improvement strategy that It started last year.” In December 2021, Sabadell sold her iconic Diagonal tower for €90 million. Sabadell shares stand out today with more than 2.5% in a bag.
And the bank headed by Josep Olio asserts that it wants to take advantage of the symptoms of economic recovery, especially in the United Kingdom, and “investor appetite” to resume the sale of its historic headquarters in the British capital. The consultancy has commissioned Knight Frank to search for potential buyers, particularly investment funds and large corporations, and hopes to raise between 20 and 25 million euros. The goal is to rationalize spaces and liquidate non-strategic assets.
Sabadell House, since 1931 and the work of famous local architect Edwin Lutyens, has been the British headquarters of the Catalan financial institution for nearly three decades. In 2018, it was completely renovated into a building with an original classic facade but with a modern interior design. It was then that Sabadell thought about renting or selling it. It offers approximately 1,200 useful square meters spread over six floors and two basements.
Banco Sabadell arrived in the UK in 1986 through an operating branch in London. Its main activity is related to the commercial relations between the United Kingdom and Spain, serving both Spanish companies with subsidiaries in British territory and British companies with business in Spain.
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