It is located in La Barceloneta one of the most popular and charismatic neighborhoods of Barcelona. After complete renovation, the 17 apartments will be put on the rental market.
This acquisition will help us establish a strong presence in the neighborhood with the possibility of acquiring further buildings in proximity. We will then create a cluster of quality apartment building in rent with services.
The Barceloneta is a very small area directly bordering on the sea and the new Olympic harbor of Barcelona. The charming narrow streets with old churches and small squares and an excellent offer of bars and restaurants have converted this neighborhood into one of the most desirable areas for young residents and tourists.
The neighborhood has access to the best beaches of Barcelona and the newly built Port Vell with modern movie theatres and an extensive shopping center.
Because of the rapidly “gentrification” process underway, rental prices have risen significantly in the last few years and more and more buildings have been converted to hotels and apart-hotels.
The building was constructed in 1890 and has a total of 865 m2 built area and is made up of a ground floor plus four additional floors on a land surface of 142 m2. There are presently 17 apartments with sizes ranging from 32 m2 up to 68 m2. The building faces on to two streets and has excellent lighting conditions. The roof has been completely renovated by the former owner.
We will proceed with the renovation of the rest of the building.