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All Market News: Spanish Real Estate Intelligence

Würth Modyf Leases a 7,200 m2 Logistics Platform from Iberdrola Inmobiliaria

Iberdola Inmobiliaria has signed a rental contract for a turnkey project with Würth Modyf in Barcelona. The logistics centre has a gross leasable area of 7,200 m2, comprising a logistics warehouse with loading bays and an office area, according to the company.

The complex is going to be constructed on land that Iberdrola owns on the Llevant de Polinyá industrial estate, where companies such as Louis Vuitton, Pickin Pharma, Spralding and Hispanox, amongst others, already operate.

 
Lar's Board Earned €510,000 in 2019, Down by 2% YoY

The Board of Directors of the Socimi Lar España together earned remuneration amounting to €510,000 in 2019, compared with €519,000 a year earlier. According to documentation submitted to Spain’s National Securities Market Commission, Lar’s seven directors (two proprietary and five independent) received €510,000 in total for their work on the company’s governance body last year, although that figure was not split equally between them.

Lar’s non-executive chairman, José Luis del Valle, earned the most (€140,000), the same figure as in 2018. Meanwhile, Laurent Luccione, Pimco’s representative on the board of the Spanish real estate firm and the independent director Leticia Iglesias saw their annual salaries vary substantially, from €12,000 to €2,000 and from €19,000 to €93,000, respectively.

 
Hesperia Opens Spain's second Hyatt Regency in Barcelona

Hesperia World unveiled the Hyatt Regency Barcelona Tower on 12 February 2020. It is the brand’s second hotel in Spain, following the opening of the Hyatt Regency Hesperia Madrid in September 2019, according to El Economista.

This project has arisen from the remodelling of the former Hotel Hesperia Tower, which has involved the investment of €10 million. The hotel chain retains the ownership and operational control of the property but now shares its commercial management with Hyatt. The Hyatt Regency Barcelona Tower has 280 rooms, including 14 suites and 12 duplex suites.