IDS Nervión Tourist and Leisure, the joint venture launched this Thursday by Hercalianz, together with Insur Promoción Integral (wholly owned by Grupo Insur), and other external partners, is acquiring the the Endesa offices in the Andalusian capital for 10.6 million euros to launch a new hotel project.
The acquired asset is located at number 2, Avenida Diego Martínez Barrio, on the corner of Avión Cuatro Vientos street, and will be used for tourism development. Until now, the property was owned by Insur, the real estate company chaired by Ricardo Pumar, who will continue to have a stake in the future project.
The property, built in 1989, consists of 3,255 square metres, including a ground floor for commercial use, 12 parking spaces, a meeting room and a cafeteria. Located in a prime area of Seville, just a few minutes from the Santa Justa train station and close to the Guadalquilvir river, the new hotel will add to the existing accommodation offer in the historic centre of the city.
Of the new joint venture, created ad hoc for the project, 48% of the shareholding comes from external partners, whose identity has not yet been disclosed; 35% comes from Insur Promoción Integral and the remaining 17% comes from Hercalianz (an investment firm owned by the Hernández Callejas family, shareholders of Ebro Foods, an important brand in the food sector), which is committed to investing 2.58 million euros.
