Spain: Northern European designer short-stay apartment operator Bob W has announced its expansion into Spain with a new property opening in Madrid in September.
The Helsinki-based tech-driven hospitality provider, which aims to offer a “smarter alternative to hotels and short-stay rentals”, will mark its debut in Spain with a property opening in the spirited Chueca district in the Spanish capital. Operating currently in Finland and Estonia, it is backed by a number of respected real estate investors and venture capitalists, including NREP, Tesi, Kaamos, and byFounders, and has plans to expand further in Europe.
Chueca was the obvious choice for Bob W in Madrid, due to its central location in the larger Malasaña neighbourhood, just North of Gran Via, its hosting of one of Europe’s biggest pride parades, and its selection of small shops, restaurants, cafes and everyday amenities, in addition to a vibrant nightlife scene.
Bob W’s real estate team is constantly seeking properties in handpicked European neighbourhoods and it has secured a significant portion of the building at Calle Fuencarral 45, featuring studios and one-bedroom options. The site is a modern commercial building on a narrow pedestrianised street, in a residential setting, intersecting Gran Via.
Benjamin Russell, director of real estate at Bob W, said: “In our search for the perfect asset, we focused first on identifying the best neighbourhoods for Bob. We appreciate the centrality of the location and the proximity to Gran Via, however it was the local nature of the micro vicinity that identified itself as a place where Bob will thrive.
“Fuencarral in Chueca is an area where locals live and the kind of place you can stay for two nights or two months and feel like you’ve found a unique and personalised experience inside one of Europe’s capital cities,” he added.
Bob W was advised and supported by retail property advisor Harper Dennis Hobbs’ international team.
Ana Mendi, director at Harper Dennis Hobbs, said: “We at HDH have had the pleasure of introducing Bob W to Madrid and the historic neighbourhood of Chueca. Bob W is a forward-thinking brand with a focus on sustainability, a deliberate pursuit of all things local, and the use of technology to enhance the typical real estate use.
“Working with Bob at the beginning of their expansion has been a pleasure and a privilege as this will be the way of the future for hospitality. Welcome To Chueca,” she added.
In May, Bob W announced it was taking its concept to the UK with a new building currently being constructed in Whitechapel in the East End of London. The building is scheduled to open in 2022.
Prior to that, the company raised ten million euros in seed round funding, made up of two tranches of four million euros last year and six million euros this year. At the time, Bob W said it would invest the funds to further develop its full-stack tech platform, grow its team, and expand in both existing and new markets across Europe.