Seven of the citizens that Costanera Tower has acquired today could come up with new neighbors this year. This is because the rest of the record, which does not have a municipal reception, can now be commercialized so that the company can guarantee the mitigation work that will be done in a parcel before it is executed.
Liberty, Bank of China, Willis Tower Watson, Stanley Black & Decker, Baker McKenzie, Bayer and JLL cover the permitted 15,000 square meters of 80,000 square meters that has a large tower for rent. According to market sources, approximately 25,000 m2 of building is expected to be built this year. It is the lower and middle part of the tower. The top floors will not be released yet.
The same experts note that the price range is between 0.65 m 2 UF at the bottom and 0.7 m 2 at the middle part. Even if you look at the sector in which it is located, Providencia, prices at the average UF of 0.48 m2.
While in the surrounding areas, where Costanera's most direct competition is located, Titanium Tower, in the El Bosque sector, values are around 0.54 m2 UF. This means that these are the prices on the roof of those that are observed in the offer nearby.
Interested. Although the tower has been offered since the end of 2018, now, with more confidence in office delivery times, conversations have been reactivated with those who are interested in taking a position in the building.
In fact, they know that at least 20 companies are interested in coming to the tower. While some interviews with potential tenants are more advanced than others, no new contract is concluded because there is no municipal reception.
The building will be sold again by JLL, according to market sources. Although other advisors receive queries from clients who are interested in renting in a large tower.
Francisco Rojas, CEO of GPS Property, says it is primarily multinationals, engineering companies and large companies.
"Many are trying to change the dynamics of their facilities, have more space for collaboration, which is reflected in more open spaces, with less private offices and privileged meeting areas."
They are large companies looking for plants over 1,000 square meters, so plants with approximately 1,500 square meters of Costanera Center are very practical with medium and long term rents, ”he says between 5, 10 and 15 years ago.
However, Rioja also points to another point: "Today, Cencosud has a unique high standard product with exceptional connectivity in an emblematic building that appears when small stocks are available to companies looking for areas over 1500 square meters. "
The hotel would be open this year
On March 5th, only thirteen days before the Seremitt Regional Ministerial Secretariat for Transport and Telecommunications (Seremitt) approved adjustments to the mitigation measures necessary to fully open the Costanera Tower, this issue was widely discussed during the Council meeting. The village of de Providencia, held on that day.
On this occasion, in the midst of a wide-ranging debate between Cencosud's MEPs, it was mentioned that the hotel would be opened by AC Marriott at the beginning of the second semester. The prerequisite is the fulfillment of the first seven works of Eist.
Currently the hotel is almost ready and most rooms are allowed. "The hotel is the one that has less impact on cars, people don't come by car," the mayor said to the Council.
At the same meeting it was stated that the director of the municipal authority has the power to increase the amount of private vacation by up to 50%. This if the amount is outside the initial calculations. On the other hand, it was stated that the municipality is under no obligation to obtain a guarantee.