Mazabi buys a hotel building in the center of Madrid

Mazabi buys a hotel building in the center of Madrid

Mazabi has formalized the purchase of a building for hotel use located in the center of Madrid, between Gran Vía and Plaza España. The acquisition of this tourist property is part of the manager's strategic growth plan, which already has a portfolio of assets valued at more than 1.700 million euros.

This property is located in the central street of Leganitos and has an area of 3.287 sqm, which is distributed in two floors under ground, a ground floor and seven additional floors. Mazabi plans to undertake an integral reform in the building, to later house in it a boutique hostel with capacity for 92 rooms. Requena y Plaza is the company in charge of the design and execution of the reform.

To this end, the management has reached an agreement with the operator Room007 Hostels & Hotels, who will be in charge of the operation of this hotel asset, as well as the commercial premises included on the ground floor, following the signing of a long-term lease agreement. This is the second operation the company closes with Room007, with whom it reached an agreement in February 2020 to take over the management of its new 74-room boutique hostel on Calle Tetuán in Seville.

«We are very pleased with the acquisition of this property because it allows us to strengthen our portfolio of assets with a building located in a strategic location like the center of Madrid. In addition, the agreement we have reached with Room007 will allow us to value this property», said Juan Antonio Gutiérrez, CEO of Mazabi.

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