26 January 2015 – Expansión
Barcelona / The fund will demolish Henkel’s old offices near the Sagrada Familia.
The real estate fund Meridia is joining the latest trend in the real estate sector in Barcelona: the demolition of old offices to build large hotels and attract international hotel brands. The fund led by Javier Faus, the Vice-President and Head of Finance and Strategy of FC Barcelona, will knock down the former headquarters of Henkel Ibérica to convert it into a complex containing a four star hotel, a block of flats and several townhouses.
The name of the chain that will run the hotel has not been revealed, but sources close to the transaction said that Meridia is finalising an agreement with a company that does not yet have a presence in Spain. The total investment, including purchase of the land, will amount to around €40 million.
The hotel project envisages the construction of 182 rooms and a 100-space car park. The complex, located near the Sagrada Familia, will also include a block of 33 flats and space for six terraced houses.
Other similar projects are already underway in Barcelona: the Deutsche Bank building, which currently serves as the headquarters of the law firm Cuatrecasas, will be demolished and replaced by a hotel that may be managed by Four Seasons. The Torre Agbar will be converted into a hotel to be run by Hyatt, although in this case, the external structure of the building will remain intact. Another building to be demolished is the old Hotel Barcelona, which will be replaced by a new hotel to be managed by Melia.
Original story: Expansión (by M. Anglés and J. Orihuel)
Translation: Carmel Drake