The Chapa building located at Plaza Cánovas del Castillo nº1 in Valencia (Spain) is undoubtedly one of the grand buildings of the Valencia expansion, which exemplarily develops the front of the block between Conde Salvatierra Street and Cánovas Square facing the Gran Vía.
It is a five-story building with commercial space on the ground floor and offices on the upper floors. The building has a plant scheme with centered stairs leading to two large offices per floor, which are structured with more light to the main facade along the perpendicular corridor of the street. The other spaces face the courtyard, illuminated and ventilated by two light patios.
The building is one of the most sought-after office rental properties in the city of Valencia. In recent years, JECAMA SL has renovated and painted the facade and changed the enclosures to improve energy efficiency.
Additionally, the building has a photovoltaic solar panel installation to reduce grid consumption. The community includes energy efficiency measures such as LED lighting and a hydraulic elevator to reduce tenant expenses.
Project description
Dwellings
9 Offices
Ground floor
2 Commercial Ground Floors
Constructed Areas
m2 Dwellings
1749.57
m2 Ground floor
499.47
Total Constructed Area
2249.04
Project Data
Equity
61%
Debt
39%
Total Cost
4,032,374.91
Total Cost Euro/m2
1,792.93
Project Start Date
February-02
Years in Operation
20.93
Project Management Results
Occupancy 2022
100%
Rental Price/m2 per month
11.36
Cash on Cash Gross
12.55%
Cash on Cash Net
9.29%
Gross ROI
7.60%
Net ROI
5.62%
Energy Efficiency
Energy Certificate
Protected Building - Exempt