Metrovacesa buys a new five-star hotel in Barcelona (ES)

Metrovacesa, Landscape and Espais have come to a sale and purchase agreement for the five-star hotel which Landscape and Espais are developing at the beginning of Avda Diagonal, a landmark at the start of this emblematic avenue in Barcelona.

The hotel will be located in Diagonal 0, and will have an area of 20,288 sq. metres and 251 rooms. A joint venture between Espais and Landscape will build this turn-key project.

Metrovacesa has reached an agreement with the Barceló Hotels & Resorts group whereby this group will manage the new hotel once it has been built and delivered.

This turn-key operation is the second transaction the real estate company has sealed with the Barceló group. The developer is a joint venture between the Catalan developer Espais and Banco Sabadell?s real estate company Landscape. The tenant, the Barceló group, already has experience in the area, as it manages the four-star Barceló Atenea Mar on the sea front. Metrovacesa?s investment will be in excess of euros 52 million.

The hotel will be a Barceló Premium, the top of the chain?s range, and it is expected to be opened by the beginning of 2009. It will be five-star, with 251 rooms (including 27 suites, seven of them nearly 100 sq. metres in size, and 80% of the rooms will have sea views), a swimming-pool with a retractile roof and a gymnasium on the top floor, a bar, restaurant, business centre and spacious banqueting halls.

The hotel, with an area of 20,288 sq. metres (of which 3,171 sq. metres are below grade), will have 18 floors and a basement with its own car park for 46 vehicles.

The hotel will be in a prime location, on one of the last plots available on Barcelona?s Avda Diagonal. Situated in the Poble Nou/22@ district, one of the fastest-growing areas of Barcelona, opposite the Forum building and Barcelona?s International Convention Centre which has over 100,000 sq. metres of exhibition space. It will also be very close to hotels like the AC Barcelona and the Hilton Diagonal Mar ? two of the most emblematic hotels in the city. When the hotel opens in 2009, the area is expected to be even more established, with the Convention Centre working at full tilt, the Marina and its shops well-established, and the new marine zoo open. This latter project involves an investment of over euros 120 million and will make 350 metres of beach available opposite the hotel.

Source: Metrovacesa

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