The expansion of the business of tourist apartments continues unstoppable and incorporates a new protagonist in the city of Alicante. Mistral Patrimonio Inmobiliario, a public limited company based in Madrid, is now promoting the transformation of a nine-storey residential building into apartments for holiday accommodation.
The property is located in the heart of the capital, at number 32 Calle Navas, near the San Remo Hotel, one of the city’s oldest hotels, which has just undergone a complete renovation. Likewise, the mezzanine floor of the building houses the Ateneo Científico, Literario y Artístico de Alicante. However, its offices are not part of the project, as this is the only part of the building that does not belong to the company, according to its own representatives.
Initially, Mistral Patrimonio Inmobiliario’s intention is to carry out a new intervention in the building, as it was refurbished in 2006 to accommodate 14 apartments for tourist rental. Currently, the property, which the public limited company is marketing as ‘Residencial Bucket’, consists of two two-bedroom apartments with a total surface area of 105 square metres and another twelve three-bedroom apartments of 131 metres each.
However, it has not yet been determined when this new block of apartments could be put on the market since, according to various sources, the characteristics of the project are still being finalised pending the granting of a licence.
The public limited company, which began trading on the Mercado Alternativo Bursátil (MAB) in 2018 with a value of 33 million, has a property portfolio consisting of eleven free and social housing buildings distributed in various provinces.
The free housing properties are located in Alicante, Palma de Mallorca and Pontevedra, while the social housing properties are located in Albacete, Gerona, Navarre (Marcilla, Cárcar, Castejón, Cascante and Caparroso) and Seville. In total, it manages more than 222 apartments for rent, 165 garages and 17 commercial premises.
With the development of this project, the range of rental accommodation in Alicante is expanded, with the arrival of the apartments promoted by Ofinave in La Rambla; those of BN Suites in Calle del Teatro; those of Corisa in the confluence of Calle Mayor and San Nicolás or those of Prominogal in the same street, behind the cathedral.
