Líbere Hospitality, the urban accommodation management company of the All Iron Group, has signed a third agreement with socimi Next Point to manage new tourist flats in Valencia.
The Líbere Valencia Ayuntamiento building, adjacent to the Plaza del Ayuntamiento, is currently being renovated and is scheduled to open in September 2022. The 2,872 sqm building has seven floors, a roof terrace and 42 flats of different types, focusing on short and medium stays.
The new asset under management is known as the "Edificio Vizcaíno" and is one of the most representative examples of Valencian rationalist architecture. Built in 1942 and designed by the architect Cayetano Borso di Carminati, it has been occupied by 9 homes and 8 offices that will be converted into tourist flats from 46 to 70 m².
The parties have signed a 10-year lease agreement to operate the property located in Calle Ribera for tourism purposes and an annual contractual rent of a fixed minimum and an additional 40% of the gross income from the operation of the tourist activity.
With this third agreement with Next Point, the serviced flat operator continues its expansion in the Valencian capital, where it already manages two buildings: Líbere Valencia Abastos (13 flats) and Líbere Valencia Jardín Botánico (11 flats). More recently, Líbere Hospitality announced the forthcoming opening of a youth hostel in Bilbao.
Líbere Hospitality, which began operations in 2020, has managed in just two years to have a portfolio of twelve properties in operation in eight Spanish cities: San Sebastian, Vitoria, Bilbao, Valencia, Madrid, Granada and Malaga. It also has three other properties in the process of being adapted for opening soon.