Acciona Buys 85,000 m2 of Land in Cádiz to Build a Hotel and Homes

The company has purchased 85,000 square metres of land from the company Big Blue for around €20 million and plans to invest €60 million in the project in total.

Acciona Inmobiliaria has purchased 85,000 square metres of land with a buildable surface area of 40,000 square metres on the beachfront in Puerto de Santa María, Cádiz from the company Big Blue. According to industry sources, the company has disbursed €20 million for the plots, whilst the total investment in the project could exceed €60 million, according to El Confidencial.

This is the first major land operation to be signed in Puerto de Santa María for years. And it has been closed, after more than a year and a half of negotiations, in the midst of the coronavirus crisis.

Millenium Acquires Plot of Land in Sotogrande for €33.2 Million

6 January 2020 Millenium Hotels Real Estate I has acquired beachfront land, including two golf courses, in the area around Sotogrande, Cádiz, for 33.2 million euros. The asset includes a 90,000-m2 plot of land in the Hacienda de San Roque estate, along with the companies Alcaidesa Holding and Alcaidesa Golf. Between them, those firms control an urban plot of land with 50,000 m2 of land for residential and hotel use, two golf courses and a clubhouse.

The socimi intends to develop a 5-star resort with almost 400 rooms (150 in the main building and the rest in 53 villas). The new development will also have several swimming pools, a gym, spa, sports areas, meeting rooms, restaurants and two 18-hole golf courses (Alcaidesa Link and Heathland Golf).

Millenium Hotels Real Estate I ha adquirido terrenos frente al mar, incluidos dos campos de golf, en los alrededores de Sotogrande, Cádiz, por 33,2 millones de euros. El activo incluye un terreno de 90,000 m2 en la finca Hacienda de San Roque, junto con las compañías Alcaidesa Holding y Alcaidesa Golf. Entre ellas, esas empresas controlan una parcela urbana con 50,000 m2 de terreno para uso residencial y hotelero, dos campos de golf y una casa club.

La socimi tiene la intención de desarrollar un complejo de 5 estrellas con casi 400 habitaciones (150 en el edificio principal y el resto en 53 villas). El nuevo desarrollo también tendrá varias piscinas, un gimnasio, spa, áreas deportivas, salas de reuniones, restaurantes y dos campos de golf de 18 hoyos (Alcaidesa Link y Heathland Golf).

Original Story: La Vanguardia – P. R. D.

Translation/Summary: Richard D. Turner

The New Winds Group Acquires the Puerta de Chiclana Shopping Centre

6 January 2020 The New Winds Group (NWG), controlled by the Saralegui Reyzabal family (former owner of the Windsor building in Madrid), has reached an agreement to acquire the Puerta de Chiclana shopping centre from the Dutch firm Redevco.

Puerta de Chiclana has an area of 14,839 square meters, along with 1,273 parking spaces. Furthermore, the shopping mall is located 16 kilometres from the centre of Cádiz. The supermarket chain Eroski anchors the asset.

El Grupo New Winds (NWG), controlado por la familia Saralegui Reyzabal (ex-propietario del edificio Windsor en Madrid), ha llegado a un acuerdo para adquirir el centro comercial Puerta de Chiclana de la firma holandesa Redevco.

El centro tiene una superficie de 14.839 metros cuadrados, junto con 1.273 plazas de aparcamiento. El centro comercial se encuentra a 16 kilómetros del centro de Cádiz. La cadena de supermercados Eroski ancla el activo.

Original Story: modaes.es – P. R. D.

Translation/Summary: Richard D. Turner

Atom Hoteles Acquires Hotel in Cádiz for €15 Million

4 December 2019 – The socimi Atom Hoteles has finalised the acquisition of a hotel in Cádiz for 15 million euros. The four-star hotel is located in the city’s historic centre.

The socimi funded the operation using equity but is also studying possible debt financing. Atom Hoteles will also sign a ten-to-twenty year management contract with Hoteles Playa group.

Original Story: Eje Prime

Adaptation/Translation: Richard D. K. Turner

Alantra REIM Acquires NH Sotogrande in Cádiz

8 October 2019 – Alantra has finalised the acquisition of the NH hotel in Sotogrande, Cádiz, through its subsidiary Alantra REIM.

Alantra REIM’s portfolio will now comprise three assets: the Hotel Dénia La Sella Golf Resort & Spa, the Islantilla Golf Resort (both acquired in 2018) and the NH Sotogrande. The latter hotel is a four-star unit with 96 rooms. The hotel also has other facilities such as a swimming pool and paddle tennis courts.

Original Story: El Economista – Araceli Muñoz / Rubén Esteller / Alba Brualla

Adaptation/Translation: Richard D. K. Turner

Castellana Properties Acquires Puerta Europa Shopping for €57 Million

5 August 2019

Castellana Properties, the socimi controlled by the South African fund Vukile, acquired the Puerta Europa shopping centre in Cadiz for 56.8 million euros. Located in the town of Algeciras, the shopping centre opened a decade ago and has more than 100,000 square meters of surface area, of which 29,531 square meters are commercial area.

The mall has an area of influence with more than 250,000 inhabitants, and has 100 stores, including a wide range of fashion and leisure shops and restaurants. Tenants include such established brands as Primark, Zara, H&M, Yelmo cinemas and a Mercadona supermarket.

Original Story: Expansión – Rocío Ruiz

Adaptation/Translation: Richard D. K. Turner

Russian Magnate Acquires San Roque Gold Club in Sotogrande

24 June 2019 – El Confidencial

Russia’s former Minister of Industry, Viktor Khristenko, has acquired the San Roque golf club in Sotogrande from the Japanese group Asahi Kanko through his company Golf Estates.  San Roque is considered one of the four preeminent courses in Cádiz, along with Valderrama, the Real Club de Golf Sotogrande and La Cañada.

Gold Estates, which already owns three gold courses in Russia, acquired the totality of the outstanding shares of Asahi Kanko SAU (AKS) , a Spanish subsidiary of the Tokyo-based golf course group. AKS currently has 40 million euros in funds and revenues of €1.5 million a year.

It has a wholly-owned subsidiary, Suite Hotels, which operates the club building and the two 18-hokle golf courses. The San Roque Club also has an equestrian centre. Details of the transaction were not disclosed.

Original Story: El Confidencial – Carlos Pizá de Silva. Sevilla

Translation/Summary – Richard D. Turner

Casual Hoteles to Open 5 New Hotels in 2019

7 March 2019 – Expansión

The Valencia-based hotel chain Casual Hoteles is planning to open four new establishments in Spain in 2019 (in San Sebastián, Cádiz, Valencia and Madrid) and one in Portugal (in Lisbon). The group currently operates 11 hotels and expects to increase revenues by 58% YoY in 2019 to €12 million and to €20 million in 2020.

The firm is also evaluating its expansion into Italy, France, the Netherlands and the UK by 2023 when it expects to have 30 hotels in its portfolio and to generate revenues of €50 million.

Original story: Expansión

Translation: Carmel Drake

Taylor Wimpey España Invests €68M in Several Developments on the Costa del Sol

30 October 2018 – Eje Prime

Taylor Wimpey España is going for gold on the Costa del Sol. The Spanish subsidiary of the British real estate group, which specialises in second homes for foreigners, has invested €68 million in the launch of several residential developments along the coast of Málaga.

The company has started construction of projects such as Horizon Golf, a complex comprising 55 terraced houses in Mijas; Grandview, a complex comprising sixty lofts and apartments, also in Mijas; Green Golf, a residential development comprising 48 terraced houses in Estepona; and Pier Sotogrande, a residential complex comprising 64 apartments in Sotogrande, in Cádiz.

Taylor Wimpey España’s developments are mainly aimed at British buyers looking for second homes right by golf courses. In fact, Málaga and Cádiz account for more than 71% of all the golf courses in Andalucía, according to a report from New Trends in Golf Tourism: vision to 2020, compiled by the Confederation of Entrepreneurs of Andalucía (CEA), in collaboration with the Ministry for Tourism and Sport.

Spain is still the preferred destination for Brits to buy a home, as highlighted by the UK embassy. There are around 300,000 British people in the whole of Spain and “they are still the main overseas buyers of homes, accounting for 15% of the total”, said Marc Pritchard, Director of Sales and Marketing at Taylor Wimpey España.

In the ranking of overseas nationalities who purchase homes in Spain, the British outrank the French, who account for 8.64%; the Germans (7.77%); the Belgians (6.39%); and the Swedish, who remain as historical investors, accounting for 6.38%.

Original story: Eje Prime

Translation: Carmel Drake

Nyesa Raises Capital with New Investors & an Office Portfolio in Cádiz worth €22M

30 October 2018 – Eje Prime

Nyesa is continuing with its plan to capture investors and increase its share capital and portfolio. The Spanish real estate company has agreed to a capital increase, which will allow the company Olaf y Rubí to become one of its shareholders. Following the operation, Nyesa’s new shareholder will introduce into the company’s portfolio 95 offices in Las Torres De Hércules, in Cádiz, worth €22 million, according to a statement filed by the company with Spain’s National Securities and Markets Commission (CNMV).

The investment, which will see Olaf y Rubí acquire a 21% stake in the real estate company, is conditional upon Nyesa’s largest shareholders (the US group Gaber, the Russian investors Eldarov, Ivanov, Samodurov and the company Fanumceo) considering that the assets in question will pass an urban planning, legal, tax and financial review.

Olaf y Rubí’s portfolio is associated with a mortgage amounting to almost €4.8 million. The new shareholder of the real estate company will subscribe to a line of credit to cover all of the costs relating to the mortgage (…).

Las Torres de Hércules, located in the Bay of Algeciras, were designed by the prestigious Spanish architect Rafael de la Hoz. Their tenants include companies such as the Danish logistics giant Maersk, which houses its headquarters for Southern Europe in the complex.

Standing 126 m above the city, the building was the tallest in Andalucía for several years, until the completion of Torre Sevilla, owned by CaixaBank. The property, which comprises two towers, spans a surface area of almost 20,000 m2 and was acquired by the Socimi Brickstock in September.

Original story: Eje Prime

Translation: Carmel Drake