St Michael's Citadel Gibraltar: Iconic New District for Gibraltar

Charles Gomez & Co settled all transaction documents on behalf of the Saccone & Speed Group, the sellers of the land, in what promises to be the most ambitious building development in the north face area of Gibraltar.

St Michael’s Path Ltd, the buyers, have recently submitted an Outline Planning Application to the Development and Planning Commission.

St. Michael’s Citadel is the brainchild of well-known developer, the Sorbonne and US educated, ex-Crédit Suisse investment banker Yan Delgado. Mr Delgado told the Gibraltar Chronicle:

“The project aims to reinvigorate the area with the creation of a much-needed traffic-free central area which will provide a safe, vibrant and welcoming new environment and facilities, surrounded by high quality residential development and an array of other uses”.

Agreements for the acquisition of the large area of land on which St. Michael’s Citadel will be built were signed last Christmas Eve with the Saccone & Speed Group, which currently occupies the location as warehousing and offices for their extensive commercial activities, and who have already earmarked suitable alternative accommodation elsewhere in Gibraltar.

All negotiation support and contract drafting for the Saccone & Speed Group have been provided by Charles Gomez & Co.