Centre & Lofts Tower to be Built next to Levante Football Stadium

Centre & Lofts Tower to be Built next to Levante Football Stadium

Added: (July 17 2007)

A shopping centre and tower with 153 lofts for mixed commercial and residential use is to be built right next to the Levante Football Stadium. The land on which the development is to be built was old land belonging to the club which was rezoned by local government for commercial/residential usage. The shopping centre will be 32,000 sqm in total on 3 floors and is expected to be opened in late 2009. A limited company called Valencia Natura Park has been set up to bring the project to fruition, this company is made up of two significant players in the Valencian market namely Gesfesa and Grupo Montoro. The shopping centre will be principally dedicated to fashion and fashion accessories that said it will have a supermarket of 4,000 sqm. The development will undoubtedly fill a gap in the market as in Oriols the area where the development will be situated there is no similar development. The shopping centre will be three floors in total with the supermarket situated in the basement of the building.

Lofts are becoming increasingly popular in the city especially amongst self employed people who want the ability to work from home in a city location close to clients and in a modern suitably equipped environment. There are a number of developments in the city at present offering a mix of office space and lofts with their own office space. The lofts that are to be built next to the Levante stadium have planning for ceilings of 5 metres with the living/sleeping area looking down on the office area. The upstairs area will really be a studio type apartment with kitchen, bathroom and sleeping area whereas the downstairs part will be a spacious open plan office area with wi-fi internet, air con etc.

Levante F.C. are continuing with their project to move the stadium to within the port area of the city. They have strong backing form both the local government and the Mayoress Ms. Rita Barbera.The club has started negotiations to have the stadium rezoned for development with the aim of securing rezoning for 45,000 sqm in total which would be exactly half of what Valencia F.C. obtained in Mestalla where it is situated an area which is now the city's most expensive at nearly €4,000 per sqm.

All in all, interesting times for property investors in Valencia. Like anywhere in the world, buying property is a matter of local knowledge therefore anyone interested in buying reasonably priced quality property in Valencia's prime areas should contact the city's premier property search and property investment company namely Valencia Property Hound Ltd.

Article by Dermot Quinn, Valencia Property Hound Ltd