BuySellBA
Administrator
The auction of a coveted INTA building in Palermo generated unprecedented interest: how much is it worth and who wants to keep it? - Infobae
Source:
www.infobae.com
December 18, 2024
This is one of the public properties that the Executive plans to sell. It has 3,143 m2 and is located in a highly sought-after area, near Barrio Parque.
By Jose Luis Cieri
The property occupied by INTA will be transferred to private hands starting next Monday
A highly coveted building of the National Institute of Agricultural Technology (INTA), located on the corner of Cerviño and Ortiz de Ocampo avenues, in the heart of the Palermo neighborhood, will be auctioned off on December 23 at 10 a.m. As detailed by Infobae , it is one of more than 300 sales of public buildings that the Government announced and with which it hopes to raise some 800 million dollars .
But this is not just any sale. This transaction attracted an almost unprecedented interest: there are 18 registered bidders , among which are the most prestigious companies in the local real estate sector. They will pay a base price starting at USD 6.3 million .
According to official sources, this number represents a record for this type of public auction, which usually has no more than five interested parties. Among the companies that will seek to acquire this property, there are important names in the real estate sector. These are companies that carry out various housing and mixed-use projects in various parts of the city. Although there is no official information, Infobae was able to learn that among those bidding are:
The auction will be managed by the State Property Administration Agency (AABE) and will be carried out through the digital platform Subast.ar.
Interested parties registered yesterday to complete their registration. As stated, the base price of the property was set at USD 6,378,968, a figure derived from a report provided by the National Appraisal Court, which had established a minimum value of USD 5,741,071.
These values were determined by taking into account the characteristics of the construction and its strategic location in one of the most sought-after neighborhoods in CABA.
The operation was justified by the Government with the argument of the underutilization of the building. Currently, the building houses about 100 employees, although official projections suggest that, with an optimization of its resources, the capacity could be expanded to 256 jobs. This building houses the National Directorates of Technological Linkage and Institutional Relations, and the Center for Economic and Prospective Research. In addition, it is the headquarters of the ArgenINTA Foundation and the company Innovaciones Tecnológicas Agropecuarias (Intea).
This type of development could include commercial premises or coworking spaces , given its location in a dynamic and exclusive area, close to Barrio Parque and Palermo Chico, where properties are highly valued on the market and exceed USD 350,000 for sale on the second-hand market.
The building is distributed over three floors, on a corner lot. A few meters from Libertador Avenue and Cerviño
According to the AABE technical cadastral report, the land has a surface area of 919.10 m2 and a total covered area of 3,143.53 m2.
The building is made up of a ground floor, first floor and second floor, and currently functions as administrative offices and a meeting room. All floors have a dining room, kitchen and bathrooms, and the building is in a very good state of preservation and maintenance.
The AABE specifications indicate that the property has a total buildable area of 10,126 m2, an indicative value that does not include discounts for patio surfaces, common areas or services. It specifies that the destination will be for residential or office uses.
Anyone who buys the property must build at least 75% of the surface area, according to local regulations. These conditions exclude those who want to use the building for projects such as schools or green spaces.
View of the property that will be auctioned: it is in very good condition
This auction is part of a broader government initiative. Months ago, the government announced an ambitious plan to sell 309 state-owned properties in different parts of the country, with the expectation of raising around $800 million .
This process includes unused properties, vacant lots and buildings that are still in operation. The list ranges from the metropolitan area of Buenos Aires to other major cities such as La Plata, Mar del Plata, Rosario, Santa Fe, Córdoba, Mendoza, Corrientes and Paraná.
This move is part of the current administration's strategy to optimize the management of public resources, arguing that many of these properties are not used effectively. Across the country, these properties range from former land belonging to train stations and disused railway sites, to large rural plots suitable for industrial, productive or commercial developments.
www.buysellba.com
Source:
La subasta de un codiciado edificio del INTA en Palermo generó un interés sin precedentes: cuánto vale y quiénes quieren quedárselo
Se trata de uno de los inmuebles públicos que el Ejecutivo planea vender. Tiene con 3.143 m2 y está ubicado en una zona muy cotizada, cerca de Barrio Parque
www.infobae.com
December 18, 2024
This is one of the public properties that the Executive plans to sell. It has 3,143 m2 and is located in a highly sought-after area, near Barrio Parque.
By Jose Luis Cieri
The property occupied by INTA will be transferred to private hands starting next Monday
A highly coveted building of the National Institute of Agricultural Technology (INTA), located on the corner of Cerviño and Ortiz de Ocampo avenues, in the heart of the Palermo neighborhood, will be auctioned off on December 23 at 10 a.m. As detailed by Infobae , it is one of more than 300 sales of public buildings that the Government announced and with which it hopes to raise some 800 million dollars .
But this is not just any sale. This transaction attracted an almost unprecedented interest: there are 18 registered bidders , among which are the most prestigious companies in the local real estate sector. They will pay a base price starting at USD 6.3 million .
According to official sources, this number represents a record for this type of public auction, which usually has no more than five interested parties. Among the companies that will seek to acquire this property, there are important names in the real estate sector. These are companies that carry out various housing and mixed-use projects in various parts of the city. Although there is no official information, Infobae was able to learn that among those bidding are:
- IRSA , headed by Eduardo Elsztain , in addition to managing shopping malls such as DOT and Alto Palermo, is moving forward with the recovery of the former Mercado del Plata and with the mega project in the former Boca Juniors Sports City.
- Consultatio , by Eduardo Costantini , is currently developing the Paseo del Bajo and strengthening Puertos, in Escobar. Costantini is the creator of Nordelta.
- Line , chaired by Juan Martín Santagada , is carrying out Line Ocampo, a highly sought-after project in Barrio Parque, and has just bid with IRSA in the auction of the CGP of Coronel Díaz and Beruti.
- ABV carries out works in Palermo and Puerto Madero, and belongs to the architects Mariano Boruchowicz , Javier Vilamowski and Ioram Amsel.
The auction will be managed by the State Property Administration Agency (AABE) and will be carried out through the digital platform Subast.ar.
Interested parties registered yesterday to complete their registration. As stated, the base price of the property was set at USD 6,378,968, a figure derived from a report provided by the National Appraisal Court, which had established a minimum value of USD 5,741,071.
These values were determined by taking into account the characteristics of the construction and its strategic location in one of the most sought-after neighborhoods in CABA.
The operation was justified by the Government with the argument of the underutilization of the building. Currently, the building houses about 100 employees, although official projections suggest that, with an optimization of its resources, the capacity could be expanded to 256 jobs. This building houses the National Directorates of Technological Linkage and Institutional Relations, and the Center for Economic and Prospective Research. In addition, it is the headquarters of the ArgenINTA Foundation and the company Innovaciones Tecnológicas Agropecuarias (Intea).
What could it become?
The company that acquires this property will probably develop a real estate project that combines housing with mixed uses.This type of development could include commercial premises or coworking spaces , given its location in a dynamic and exclusive area, close to Barrio Parque and Palermo Chico, where properties are highly valued on the market and exceed USD 350,000 for sale on the second-hand market.
The building is distributed over three floors, on a corner lot. A few meters from Libertador Avenue and Cerviño
According to the AABE technical cadastral report, the land has a surface area of 919.10 m2 and a total covered area of 3,143.53 m2.
The building is made up of a ground floor, first floor and second floor, and currently functions as administrative offices and a meeting room. All floors have a dining room, kitchen and bathrooms, and the building is in a very good state of preservation and maintenance.
The AABE specifications indicate that the property has a total buildable area of 10,126 m2, an indicative value that does not include discounts for patio surfaces, common areas or services. It specifies that the destination will be for residential or office uses.
Anyone who buys the property must build at least 75% of the surface area, according to local regulations. These conditions exclude those who want to use the building for projects such as schools or green spaces.
Optimize resources
The auction on Monday will allow for bid increases of at least USD 95,700. According to the government, the funds raised are intended to strengthen the development of public policies within the framework of a process that seeks to maximize the efficiency of the administration of state real estate. The sale generated protests from workers and unions.
View of the property that will be auctioned: it is in very good condition
This auction is part of a broader government initiative. Months ago, the government announced an ambitious plan to sell 309 state-owned properties in different parts of the country, with the expectation of raising around $800 million .
This process includes unused properties, vacant lots and buildings that are still in operation. The list ranges from the metropolitan area of Buenos Aires to other major cities such as La Plata, Mar del Plata, Rosario, Santa Fe, Córdoba, Mendoza, Corrientes and Paraná.
This move is part of the current administration's strategy to optimize the management of public resources, arguing that many of these properties are not used effectively. Across the country, these properties range from former land belonging to train stations and disused railway sites, to large rural plots suitable for industrial, productive or commercial developments.
www.buysellba.com
