Spanish construction and property group Ferrovial has sold its head office in Madrid to a private real estate investor for around EUR 40 mln. The company is leasing back the asset for 12 years with an option to extend the lease by a further 10 years.

Located at Príncipe de Vergara street, the property was developed in 1989 and currently provides around 8,500 m2 of office space across seven floors. It also includes two parking lots with roughly 100 parking spaces.

Ferrovial reportedly put the asset on the market in September with a target price of around EUR 43 mln.