THE Local Government Council of the Pamplona City Hall today approved the sale of a municipal land In Arrosadia intended for housing construction.
The land, 2,160 square metersis located between the streets Fernando Remacha, Ulzama Rivera public park and a new road generated in the neighborhood. The prize was awarded through public auction for an amount of 9.3 million euros.
He Pamplona City Hall is the owner of 100% of this plotresulting from the development of ARS3 Arrosadia. The sale will allow us to achieve the revenue objective provided for in the municipal budget of 2024 and putting land on the market to promote housing in a residential area which already has several developments delivered and others in development.
In accordance with current town planning rules, the most likely development would include high storey houses, tertiary use on the ground floor and first floor, in addition to the basements for parking lots and storage rooms.
The buildable surface area for housing reached 8,858 square meterswhich translates to 70 accommodations. Likewise, they reserve 1,300 square meters for tertiary use: 650 on the ground floor And 650 on the first floorintended for premises and offices. Furthermore, the construction of two basements to provide storage rooms and parking spaces for houses.
The auction of the land was published last month Septemberwith a base price of 5,699,506 euros. In total, seven companies participated in the process. The prize was awarded to Navarra Investment and Real Estate Management SAincluding the offer of 9,302,140 euros exceeds by one 63% the initial price.
