Cushman & Wakefield is the number one investment consultancy in Spain

8 Feb, 2011, Madrid

• The total volume of advised transactions has reached 1,240 million euros
• Clients include: Eroski, Banc Sabadell, Deka, WP Carey, GLL, AEW, Hines

Cushman & Wakefield (C&W) is the number one Spanish real estate consultant for investment transactions brokerage in 2010.

Cushman & Wakefield who arrived in Spain 20 years ago and has offices in Madrid and Barcelona, carried out a total of 23 investment transactions in 2010, worth 1,240 million euros in absolute terms and a GLA (gross lettable area) volume of 519,256m2. In relative terms in respect of the total transactions that benefited from the advice of a consultant, these figures signify a market share of 50% and 60% respectively.
It is worth highlighting the performance of the consultancy in the Retail sector, where it obtained a market share of 63%, a proportion which translates into transactions carried out to the value of 947 million euros.

The operating area of the consultancy covers the country from coast to coast: Madrid, Catalonia, the Basque Country, Valencia, Andalusia and Galicia.

Some of the most significant transactions:

- Advising AEW on the purchase of around ten hypermarkets from Eroski for 150 million euros;
- Advising Deka Immobilien on the purchase of the D640 building in Barcelona from Realia for 145 million euros;
- Advising Banc Sabadell on the sale of its former head office located on Paseo de Gracia 36 (Barcelona) to Grupo Mango for more than 50 million euros;
- Advising ISC Fresh Water Investment on the sale of 5 prime premises to Pontegadea for around 55 million euros;
- Advising HINES on the sale of Diagonal 123 in Barcelona for more than 33 million euros.
Roger Cooke, C&W’s managing director in Spain, explained, "2010 has been a very good year for us, especially in Capital Markets. This is the result of the change of strategy we underwent when we became aware of the economic crisis and saw that our way of working had to be different if we wanted to remain among the 3 top consultancies in the country. We have boosted cross-selling in our services and have prioritised focusing our resources on those transactions that are potentially profitable. Furthermore, because we have such strong agency teams, we have up-to-date market information as regards rents, occupancy, demand, etc. which helps us understand the needs of our customers."

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