BidX1, the digital property investment platform, has raised more than €11m at its most recent sale of Spanish properties. The latest transactions include a prime residential building in Madrid's exclusive Chueca district and a supermarket in Córdoba, leased to a leading German supermarket chain - the first fully online sales of this scale in the country.
The former, located between Hortaleza and San Mateo, is a four-storey residential building comprising 13 apartments, each with a dedicated parking space. Extending to more than 1,532 m2, the property also boasts an extensive roof terrace, and was sold for €3,925,000.
The supermarket, situated in Lucena, Córdoba, sold for €1,750,000. An extensive building, covering more than 1,158 m2, the property benefits from more than 100 customer parking spaces and currently generates €167,614.08 per annum from the sole tenant.
The sale of such substantial residential and commercial investment properties is a mark of BidX1's success in Spain, less than a year after launching operations in the market.
BidX1 also offered an extensive catalogue of residential properties with prices ranging from €60,000 to more than €2m. Total residential sales came in at over €6m, with 40 properties sold.
The firm was able to complete sales of €1.6m during the lockdown period, thanks to its innovative, tech-focused approach to property transactions. The launch of the BidX1 App earlier this year, which allows the entire process to be completed quickly and easily on mobile devices, has also facilitated investors who value convenience and efficiency.
The BidX1 platform attracts an international investor audience and Spanish auctions have proved no different. The most recent sale saw an Irish buyer - accustomed to purchasing Irish properties through the platform and chasing attractive yields - secure a property in Madrid.
Javier de Pablo, Head of Property at BidX1 Spain, commented: “This type of purchase highlights the advantages of our platform, which attracts international investors who value the transparency and convenience of the process."
Daniela Marchesano, Head of Operations & Delivery at BidX1 Spain, added: "The recent sales, which include a multi-unit residential investment and a substantial supermarket, provide validation for our business model, which is unique in Spain. Investors want all the information at their fingertips and control over the transaction, supported by the expertise of our property consultants."
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