Main Photo: The office building acquired for the new Zaka/Evok Hotel
Date: January 2020
Location: Gran Via, Madrid, Spain
No. of Keys: TBA
Seller: Savills Aguirre Newman announced that it had sold the office building located at Gran Vía 20 in Madrid on behalf of Cajalmendralejo. They originally acquired the building, which has eleven floors and 4,500 square meters of above-ground surface area, in 2014, when it paid €20m for the asset at a public auction.
The building was currently in use as the headquarters of the Registro de la Consejería de Educación, Juventud y Deporte (Registry for the Department of Education, Youth and Sports) and Cajalmendralejo
Buyer: The French firm Zaka Investments bought the building for €44m. Zaka is Pierre Bastid’s family office.
The property, which was home to offices of the regional government, will be converted into a luxury hotel designed by Philipe Starck. The Parisian firm Evok Hotels Collection will take over the management of the hotel, its first in Spain.
Zaka’s CEO, Romain Yzerman, has stated that the firm is “very happy for continuing with the Evok hotel group’s growth in Europe with this acquisition in Madrid. The city is experiencing a great transformation thanks to its strong appeal, with new 5-star luxury hotels and we are delighted to take part in this evolution”
EVOK, a lifestyle creator, was brought into existence in 2014 by it’s 3 co-founders: the owner – Pierre Bastid, the developer – Romain Yzerman and the managing director – Emmanuel Sauvage. A classic luxury with a French touch at the Nolinski, the Restaurant du Palais Royal, and the Cour des Vosges, an exclusive one at Hameau de la Volière, relaxed at Brach, and extravagant at Sinner.
THPT Comment: Good to see Philipe Starck back with his designs…Evok appear to be a very classy French company, branching out in Spain.
First Seen: CPP Luxury
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