ReInvest acquires sustainable office project in Barcelona

ReInvest, the Luxembourg-based real estate company, has acquired Southern Europe’s most sustainable office development, located in Barcelona’s innovative @22 district, in a forward purchase from Glenwell Group.

What the new office development in Barcelona will look like

Glenwell Group specialises in the creation and transformation of sustainable real estate and upon completion the building will be certified LEED Platinum, WELL Platinum, PAS 2060 Carbon Neutrality, WiredScore Gold and SmartScore Gold. Completion of the office development is planned for late 2024.

“This project is truly special, not only because of its excellent location in Barcelona’s innovation district, but because of its particularly sustainable construction method, with forward-looking ‘smart building’ features,” said Daniel Hohls-Larsson, head of international transactions, REInvest. “The certifications we are currently seeking will serve to bolster the level of ESG focus in the portfolio. The property therefore fits perfectly within our investment strategy in all respects.”

The property is being built in wood hybrid construction and has around 11,000 sq m of lettable space over the ground and six upper floors. The basements will offer parking spaces for cars, motorbikes and bicycles.

The location at the corner of Carrer de Pamplona and Carrer de Pujades, next to the Bogatell Metro Station, enjoys good public transport connections.

The project has been designed by the Batlleiroig international architectural practice, based in Barcelona. The façade will be specially treated using the “Yakisugi”, a Japanese natural technique whereby the surface of the wood becomes fire-resistant and protected against humidity, solar radiation and insect attack through controlled charring or carbonisation, ensuring high durability and requiring very low maintenance.

In addition to the many other sustainability aspects, the building will also be connected to the heating and cooling network of the local district.

“This innovative project initiates a new concept of office buildings with the highest sustainability certifications,” said David Sánchez, CEO, Glenwell Group Iberia. “We expect this building to become a reference point for the real estate of the future, leading new sustainable certifications and providing a strategic district in Barcelona with a significant step forward in its innovation objectives.”

The 22@ district, also known as 22@Barcelona and Districte de la innovació, is an urban development in a 200-hectare former industrial zone in Barcelona’s Sant Martí district. The initiative by the City of Barcelona was designed to create an innovation hub, and the 22@ district is already home to over 500 companies in the media, IT, energy, design and scientific research sectors.