Barcelona has its own echoes of a not-so-distant past that are suddenly returning to the present. A couple of years ago, we said a nostalgic goodbye to the Yelmo Icària cinemas, the last bastion of the original version in the area. Today, the building that housed them is starring in a new chapter. The state has decided that it is time to let go of the dead weight and has put El Centre de la Vila, the commercial complex in the Olympic Village, up for auction with a starting price of nearly €25.7 million.
The operation, managed through the state-owned company SEGIPSA, puts an end to years of uncertainty surrounding this concrete giant. Owned by the public company Mercasa, the center was born in the glow of the 1992 Olympic Games, but the passage of time and lack of investment have turned it into a kind of “ghost mall” that is now looking for an investor with sufficient capital and, above all, a strong desire to renovate.
A giant with feet of clay (and leaks)
It is no secret that the current state of the complex is, to say the least, delicate. According to the technical documentation accompanying the auction, the building not only suffers from the logical wear and tear of the years, but also hasstructural problems resulting from a lack of maintenance. Groundwater leaks that have affected the foundations, visible cracks in several areas, and serious deficiencies in the high-voltage electrical installation are detailed.
It was precisely this situation that led Barcelona City Council to rule out its purchase last May. Although the council claims to be “closely monitoring” the process, the reality is that renovating El Centre de la Vila requires an investment that goes far beyond the purchase price. The lot includes the whole package: the commercial premises, the central gallery, and the parking lot, representing a golden opportunity, or a major challenge, to transform this corner of the city.
Appointment in Madrid to decide the future of La Vila
The resolution of this real estate enigma will take place far from the Mediterranean Sea. The auction will be heldon June 10 at the Auditorium of the National Mint in Madrid. For those interested in the sale, the terms and conditions include a bidding system: if no one puts 25.7 million on the table in the first round, the price will drop to 21.9 million in the second round and to 18.5 million in the third.