The State auctions off the abandoned shopping center in the Olympic Village

BarcelonaFor some time now, residents of Vila Olímpica have watched businesses close down in the Vila Olímpica center. However, this time it's the State itself preparing to abandon this Barcelona shopping center. The State, which managed the complex through the public company Mercasa, has put the entire site up for auction. The company is asking €25.7 million for the whole, although it is open to selling for around €18.5 million. The auction is scheduled for June 10th. However, finding a buyer doesn't seem like an easy task for a shopping center plagued by problems stemming from years of neglect. Mercasa itself admits to deficiencies in the documentation accompanying the process, which ARA has obtained. The tender specifications already emphasize that the potential buyer assumes the "particularly deteriorated condition of some of the properties." The appendix on the encumbrances associated with the lot elaborates further. Among other issues, the report notes groundwater seepage at various points in the building, which has damaged installations and structural elements; cracks and fissures due to "lack of adequate maintenance"; concrete deterioration in some structural elements; and technical and safety deficiencies in the high-voltage installation. The list of deficiencies also states that the shopping center's ventilation system is in poor condition and does not comply with current regulations. It also notes that, although legally registered and maintained, the fire protection system shows signs of deterioration due to its location on level -3 of the parking garage. The report explains that the center's drainage problems—which have necessitated the installation of extraction pumps—cause water to accumulate in certain areas. Finally, the report warns of ongoing litigation stemming from the parking garage dispute. NOW revealed

All of this confirms what residents have been warning: the management has been inadequate for years. Proof of the State's disinterest in this shopping center in recent years is that the last manager, Agustín Parra, now a PP member of Congress, left office more than five years ago without a replacement. Nor has a new maintenance director been appointed, after the previous one was summarily dismissed overnight without explanation.

The center's problems, however, go beyond the maintenance of the space. The commercial management cannot be considered a success either. The dossier Mercasa is using to try to find a buyer for the property states that only 35 of the 83 units are occupied. That number is even lower now, as one of the few businesses that survived on the ground floor—the sports outlet—has also closed its doors in recent weeks. Taking a stroll through the city center, it's clear that the vast majority of storefronts are empty, with signs advertising their availability. They're only dotted with a few businesses still struggling to stay afloat, like the supermarket, the lottery office, the optician, the pharmacy, and the hairdresser. One of the hardest blows to the center was the closure, in the summer of 2023, of the Yelmo Icària cinemas, the driving force behind the area's vibrant activity.

The City Council, on the lookout

However, in the dossier it uses to attract potential buyers, Mercasa tries to turn this lack of active businesses into an opportunity for a "comprehensive transformation" of the center. This is one of the main strengths it highlights, along with a "strategic" location—next to the Olympic Port and some of Barcelona's beaches—and a "privileged environment" with "tourist areas" and "urban amenities." For all these reasons, it sets a starting price of €25.7 million, which drops to €21.9 million in a second round if there are no higher offers, and even to €18.5 million if no one submits an offer beforehand.

As explained by ARA last JuneThe possibility of an auction was already being considered given the situation of the Centro de la Vila (City Center). However, the residents' priority is different. They have long been asking the Barcelona City Council to purchase the Centro de la Vila, which is currently the neighborhood's main commercial offering. However, in May, the fourth deputy mayor, Jordi Valls, ruled out this option, arguing that the investment required to modernize the purchase was "unaffordable" for the City Council. Nevertheless, he left the door open to reopening the debate later. In 2021, the then-mayor, Ada Colau, committed to negotiating the transfer of the Centro de la Vila with the State, but Mercasa has always preferred the sale of an asset that it initially valued at 50 million euros. Over time, these demands have decreased, and the latest offer was around 25 million euros. This amount would not include the investment needed to modernize the center, which the City Council estimates would double the cost of the operation. These figures are well above the five million euros that Colau and ERC agreed to allocate in the 2023 budget to attempt to purchase the Centro de la Villa. Regarding the auction, municipal sources are now simply stating that, "as it has done until now, the Barcelona City Council is closely monitoring this process to see how the operation evolves and what projects are being considered." It remains to be seen, then, whether Mercasa finds private buyers in this auction. If not, a new window of opportunity could open for the City Council to negotiate the purchase for a price lower than the 18 million euros that the company is currently asking, at least, for the Centro de la Villa.