Mestalla land sale seen as València’s costliest, single-buyer plan would require 450 million | OneFootball

Investors regard the Mestalla land sale as the most expensive and riskiest deal in València’s history. A single buyer would need 450 million euros for the land and for developing the housing towers and tertiary space, with the club seeking 160 million for the plot.

According to Superdeporte, CBRE will open the process in late April aiming to sign before year’s end, and the buyer must fund the stadium’s demolition.

The main sticking point is the insistence on one buyer. Several developers would take on specific housing towers but view assuming the entire scheme alone as too risky, preferring to sell pieces on later.

Timing is another hurdle, as Valencia will stay at Mestalla until the end of next season, pushing first completions to 2032. Rising construction costs after the energy crisis linked to the invasion of Ukraine, and now tensions involving Iran, are squeezing margins.

The club hopes an ATE change could allow extra height on some towers to rebalance floor area, though investors remain cautious. The site can take more than 400 homes, and one tower might reach 29 storeys.

Guidance puts land at about 2,000 euros per sq m, versus 900-1,000 in the city and up to 1,700 in some areas, levels seen on Avenida de Francia in the bubble two decades ago. A prior plan by ADU Mediterráneo proposed seven 22-storey towers above an 18 metre commercial plinth, later cut from 474 to 440 homes capped at 4,000 euros per sq m.

Source: Superdeporte