Habitat Acquires Plot of Land for Housing Development in Girona

15 July 2019

Habitat Inmobiliaria acquired a plot of land with 3,700 square meters of surface area and 10,350 square meters of buildable area in the Eixample Sud-Migdia neighbourhood, in Girona. The company will invest a total of 23 million euros to develop 90 homes.

The acquisition is a part of the firm’s plans to deliver more than 2,000 new home per year from 2021.

Original Story: EjePrime

Adaptation/Translation: Richard D. K. Turner

SmartFit Buys 2 ‘Perfect Fit’ Clubs in Cataluña

23 April 2019 – Palco 23

SmartFit has completed the purchase of two Perfect Fit clubs in Girona and Terrassa (Barcelona), according to market reports. As part of the deal, the company has also taken over the management of a third centre in Mollet del Vallés, with the option to purchase that asset before the end of 2019.

The financial terms of the transaction have not been revealed but SmartFit is expected to invest around €1 million over the next year and a half in adapting the spaces and modernising some of the equipment. Its aim is to increase the membership base of each club by 40% from the current level of 6,000.

This is not the first time that the company has resorted to growth through acquisition after it purchased a gym in Cádiz in 2016 and another in Rivas (Madrid) last year. Nevertheless, it is SmartFit’s first foray into Cataluña, having previously focused its growth on the Community of Madrid and Andalucía.

The company closed 2018 with revenues of €3.5 million, up by 20.6% YoY.

Original story: Palco 23 (by Patricia López)

Translation/Summary: Carmel Drake

Average Rental Prices Rose by 6% in Barcelona in 2018 to €930/Month

19 March 2019 – Eje Prime

The average rental price in Barcelona amounted to €929.57 per month in 2018, up by 6% compared to the previous year, according to data from the Property Developers’ Association of Cataluña. In total, 53,524 rental contracts were signed in the Catalan capital last year.

By district, Sarrià Sant Gervasi recorded the highest average price, of €1,269 per month, ahead of Les Cortes and El Eixample (€1,090 and €1,038 per month, respectively). The lowest prices were recorded in Nou Barris and Horta Guinardó, where average rents amounted to €675 and €764 per month, respectively.

Average rental prices also increased in the other three Catalan capitals in 2018. Girona recorded an average price of €598/month, up by 6.5% YoY; Tarragona of €514/month, up by 7.8% YoY; and Lleida of €432/month, up by 6.2% YoY.

The Catalan municipalities with the highest average rental prices in 2018 were Sant Vicenç de Montalt, Cabrils and Sant Cugat del Vallès, with average prices of €1,251, €1,178 and €1,149 per month, respectively.

In total, 167,458 rental contracts were signed in the autonomous region, up by 7% YoY, and the average rental price amounted to €692/month.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

HG Inaugurates its First Urban Hotel & Prepares another Vacation Project

15 January 2019 – Alimarket

The chain HG Hoteles has opened the 4-star HG City Suites Barcelona aparthotel containing 58 accommodation units on Avenida Vía Augusta 89, in the Sarrià-Sant Gervasi district of Barcelona. The establishment is the result of the purchase and complete renovation of a building that used to house the Hotel NH Belagua (3* and 72 rooms), which was active until March 2017. The renovation project has resulted in both an increase in the category of the property from 3* to 4*, as well as a reduction in the number of rooms in order to offer units that are apartment-suites and studios.

The new HG City Suites Barcelona is located just a few minutes walk from Avenida Diagonal and Paseo de Gracia. It is surrounded by services, is next to some of the most prestigious medical centre in Barcelona, and is very close to the Sant Gervasio, Plaza Molina and Fontana metro stops”, explained the company. With his hotel, HG, which has just celebrated its 50th anniversary, is making its debut in the urban hotel segment and is opening a new path of expansion.

Cristian Park will open in 2020

Nevertheless, the company’s next new property will be in the vacation sector and is scheduled for opening at the end of 2020. As Alimarket Hoteles reported, it will consist of the opening of a 4* new build aparthotel, to be operated by the owner, in the south of Tenerife, where HG Hoteles already has several apartment blocks: ‘HG Cristian Sur’ (3* and 90 rooms) and ‘HG Tenerife’ (3* and 189 rooms), in Los Cristianos. Indeed, it will open the future HG Cristian Park in that same town, with 202 accommodation units.

HG’s sun and beach offer is completed with the HG Lomo Blanco apartments (3* and 131 rooms) in Lanzarote, as well as some aparthotels in Menorca, namely: the ‘HG Jardín de Menorca’ (4*-144) and the ‘HG Cala Llonga’ (3*-30). The rest of its portfolio is made up of ski and mountain properties, including: the Huesca hotels ‘HG Alto Aragón’ (4*-134) and ‘HG Cerler’ (3*-101), the Girona-based ‘HG La Molina’ (4*-65), the Navarran ‘HG Isaba’ (3*-49) and the Granada-based ‘HG Maribel’ (4*-30).

Original story: Alimarket (by Paco Mota)

Translation: Carmel Drake

Hoteles Bestprice to Invest €7.5M in Two New Establishments in Madrid

10 December 2018 – Expansión

The hotel chain Hoteles Bestprice is going to invest €7.5 million in its new establishments in Madrid and Girona, assigning €5 million to the hotel that it is going to build in the Spanish capital and €2.5 million to the establishment that it will open in Girona at the end of 2019, according to reports from Europa Press.

Original story: Expansión

Translation: Carmel Drake

Monter to Invest €30M in its Largest Ever Production Plant

11 June 2018 – Eje Prime

Monter is going to double its production capacity to supply cold meats to Mercadona stores across the country. The meat group, which is the main supplier of cold cuts to Mercadona, is going to build a factory spanning 30,000 m2 in Girona. The planned investment amounts to more than €20 million.

The complex will be located between Besalú and Sant Ferriol, in the province of Girona, and will be equipped with “the latest technology in terms of digitalisation and robotisation”, as reported by the company to Crónica Global. Cured pork and turkey cold meats will be manufactured at the plant.

With this new development, the company is going to increase its industrial assets in Cataluña to five, most of which are located in the region of La Garrotxa. Currently, Monter has plants in the Girona municipalities of Sant Jaume de Llierca, Les Planes d’Hostoles and Serinyà, and a fourth in the Barcelona city of Vic.

Original story: Eje Prime

Translation: Carmel Drake

Vía Célere Launches in Girona with a 139-Home Development

29 May 2018 – Eje Prime

Vía Célere is expanding its homes across Spain. The residential property developer has started marketing Célere Domeny, its first project in Girona, comprising 139 homes. The urbanisation is going to be built in the capital of the province located in the north of Cataluña. In that autonomous region, the company is already working on projects in Barcelona.

Vía Célere’s new development comprises two-, three- and four-bedroom homes, which are going to be built on a plot of land that will also have common areas with a swimming pool, a padel court, a gym and even a study room, amongst other services.

The residential development is located in the northwest of the city of Girona, in Pla Baix de Domeny between Calles Roberto Bolaño Avalos, Damià Escuder i Lladó and Carrer Font de la Teula. The developer is going to open an experiential office on the site, a project unveiled recently by Vía Célere, which allows visitors to tour different spaces and experience emotions and sensations.

The province of Girona is the tenth in which the real estate company chaired by Juan Antonio Gómez-Pintado has a presence. The firm is controlled by the international investment fund Värde Partners. In addition, the company owns plots of land in neighbouring Portugal, in Lisbon and Porto, which it inherited from its merger with Dospuntos in 2017.

Currently, Vía Célere has a land bank spanning 1.4 million m2 of buildable space, equivalent to a production capacity of 12,200 homes. The property developer invested €227 million last year to expand and diversify its land portfolio, with operations in Madrid, Sevilla, Valladolid, Barcelona, La Coruña, Girona and the Balearic Islands, amongst other provinces. Since 2007, the company’s management team has delivered 2,300 homes.

Original story: Eje Prime

Translation: Carmel Drake

Lucas Fox: Luxury House Prices Rose by 18% in Q1

23 April 2018 – Eje Prime

Luxury homes in Spain are becoming increasingly more expensive. The luxury residential market saw the value of prime homes increase by 18% during the first quarter of this year. The average price paid during the 3 months to March for these kinds of properties amounted to €924,000, significantly more than the €780,000 recorded by this exclusive branch of the segment during the same period last year, according to data from Lucas Fox.

The strong performance of the Spanish economy in recent times is once again stimulating demand from domestic and overseas investors to purchase homes in the country, above all along the coast and in the major cities.

According to the report from the real estate agency specialising in luxury homes, Marbella and Sitges are the most prime area of this market, and they are monopolising business along the coastlines on which they are located, the Costa del Sol and Costa Brava, respectively.

In the case of Marbella, the city accounted for 67% of the sales that were completed in the region, whilst on the most southerly coast of Cataluña, Sitges accounted for half of all the business on the Costa Brava. “We saw a tremendous rate of growth in sales in Girona and its coastline during the first quarter of 2018”, said Tom Maidment, Director of Lucas Fox Prime.

Foreign investors account for 13% of the prime market  

“International buyers of second homes have been more active, with a notable increase in the number of British buyers”, explained Maidment. In this regard, the director added that “confidence in the market and in the Spanish economy has been consolidated and concerns over Catalan independence have disappeared”.

In total, in 2017, 13% of the purchases undertaken in the luxury residential sector in Spain were made by overseas investors, who acquired 61,000 homes, almost as many as the 65,000 properties bought by foreigners in 2007.

By nationality, the British were the most active buyers, accounting for 15% of the sales made by foreigners, followed by the French, 8.6%; and the Germans, which accounted for 7.8% of the acquisitions of this type of luxury real estate by foreigners.

In the case of Lucas Fox, 77% of the operations that the agency closed during the first quarter of the year related to international clients, most of whom came from the United Kingdom, but also from neighbouring France, the Scandinavian countries and the USA.

Original story: Eje Prime 

Translation: Carmel Drake

El Corte Inglés Receives Approval to Expand its Facilities in Girona

23 March 2018 – EjePrime

After a decade of waiting for permits, the department store chain will expand its centre in Girona’s capital by 8,000 square meters.

El Corte Inglés has already received the green light for its plans in Girona. After ten years of waiting for the relevant permits, the retail chain managed to gain approval for the city-planning process and will, therefore, be permitted to expand its commercial centre in the capital of Girona by almost 8,000 square meters, the group said in a statement.

The company, chaired by Dimas Gimeno, already has the necessary construction licenses to augment its sales area by 7,927 square meters. The project will begin in the coming weeks and is expected to last for two years.

Thanks to the remodelling, the centre will reconfigure its commercial offer, modernising its facilities. In exchange for the building permit, El Corte Inglés will cede part of the Salvador Dalí plaza in Girona for public use.

After the remodelling, which will last two years, El Corte Inglés will also have a 900-vehicle underground car park.

The group also announced that the construction would be carried out in phases, so that, the department stores will not have to close for business at any point during the two years of construction.

Original Story: EjePrime

Translation: Richard Turner

Tander To Invest €25M in Spain’s High Street Sector in 2018

13 February 2018 – Eje Prime

Tander Inversión is looking to get its teeth into the retail high street sector. The Socimi plans to invest up to €25 million in 2018 during which time it hopes to expand to more cities in Spain, with Madrid as the priority. That is according to comments made by the firm’s Director General, Sergi Mirapeix, speaking to Eje Prime. Tander’s objective is to buy between three and four assets during the course of this year.

Owned by a fund in which the Canadian manager Première Alliance holds a stake, the real estate company’s current investments are concentrated in Barcelona, where it owns five assets in prime areas of the Catalan capital. The sixth asset in the portfolio, with which it made its debut on the Alternative Investment Market (MAB) at the beginning of 2018, is located in Santander. When the MAB’s bell rang, the value of Tander’s portfolio amounted to €80.3 million.

Now, the objective of Mirapeix is “to expand our investments in the main cities in Spain”. Some of the locations that the Socimi is analysing include Bilbao, Valencia, Sevilla and San Sebastián, although it is also interested in Málaga and A Coruña.

Meanwhile, in Cataluña, beyond Barcelona, Girona is another city that is in Tander’s line of sight “because it has a high income per capita, above the Spanish average, and it is also an attractive commercial market”, says Clara Casales, administrator of the Socimi’s properties. “Our shareholder is very conservative and seeks very specific assets”, says Mirapeix.

Tander is analysing different operations but has not identified anything yet. In this regard, Mirapeix says that retail high street assets “are a complicated type because, when they are already on the market, they are very burned out, which makes it difficult to obtain the margin that you want”.

The executive also highlights the high degree of competition that exists for these types of properties, especially between family offices, which “have a higher investment margin”, he said.

On the other hand, in addition to expanding to more Spanish cities, Tander’s roadmap could involve expanding and crossing the border within the next few years. “We are going to explore entering Portugal, focusing on Lisbon and Porto”, said Mirapeix, “although, for that, we still need to establish ourselves in Spain”.

Prime stores on Vía Laietana and Paseo de Gracia  

Tander’s current portfolio in Barcelona is located in the most luxurious commercial area of the Catalan capital. The Socimi’s largest asset is an office space at number 6-20 Calle Casp, which spans 3,457 m2. That is home to the offices of Cadena SER, owned by the Prisa Group, just above Teatro Tívoli.

Very close by, at number 15 Paseo de Gracia, the manager owns a retail store spanning 527 m2, which is currently leased to FC Barcelona, which has opened its flagship store there. On the same street, at number 27, the Socimi owns a store measuring 792 m2, which it has leased to the Cos brand, from the H&M group.

Ten minutes towards the sea by foot, Tander completes its portfolio in the central area of Barcelona with part of number 47 Vía Laietana, an office building where the Socimi has leased 1,100 m2 of space to Banco Sabadell. In addition, the financial institution has a branch measuring 155 m2 at number 171 Travessera de Gracia, which is also owned by Tander Inversiones.

Original story: Eje Prime (by J. Izquierdo)

Translation: Carmel Drake