Valencia CF receive €120m-€150m non-binding bids for full Mestalla site | OneFootball

Valencia CF have received non-binding offers of €120m-€150m for the full Mestalla site, after an initial shortlist and with due diligence required ahead of binding bids.

According to Levante-EMV, frontrunners include Neinor, TM Grupo Inmobiliario and ABU, with 30 developers participating and Admara among those to submit proposals.

Pryconsa is also in the frame alongside Valencian fund Atitlan, although the latter has not confirmed interest.

Club president Kiat Lim assessed the bids during an August visit. CBRE is managing the process and has advanced three companies.

Valencia CF want the sale wrapped up before year-end, with a final decision targeted between late October and early November.

Investors consider the deal the city’s priciest and riskiest. A single buyer could need €450m for the land and development, while the club seeks €160m for the plot.

With the team set to stay at Mestalla until the end of next season, first homes would not arrive until 2032, a risk heightened by rising construction costs.

Current guidance points to about €2,000 per square metre for land, versus €900-€1,000 on average. The scheme foresees seven buildings, led by a 29-storey and two 22-storey towers, with no protected housing.

Source: Superdeporte

“Artificial intelligence was used to assist in creating this article based on reporting from the original source quoted.”