The luxury real estate market in the Catalan capital is undergoing seismic changes that reveal a harsh reality: not only apartments are part of the wild market, but also historic buildings.
The British investment fund Schroders is formalizing the sale of the Grand Hotel Central, the building that holds the title of the city’s first skyscraper. Consulting firms JLL and Savills are managing a transaction that will reach €160 million, according to various industry sources.
This transaction will be a historic milestone. If the amount is confirmed, the sale will climb to the top of the local ranking, only behind transactions such as those of the Mandarin Oriental and the Hotel W . The building currently has 147 rooms and is enjoying the momentum generated by the recent renovation of Via Laietana.
The house of Cambó, the mayor who built Via Laietana and the city’s first elevator
The value of the hotel lies not only in its profitability. The building dates back to 1926 and was originally a luxury apartment block known as Casa Cambó. The architect of the project was the politician and patron Francesc Cambó, who commissioned the architect Adolf Florensa to design a structure inspired by the Chicago School.
The building was a pioneer in the introduction of services that are commonplace today but which, in the 20th century, marked a change in the mindset of high society. Cambó installed the city’s first elevator to move his private residence to the penthouse, a space that until then had been avoided by the bourgeoisie due to the inconvenience of the stairs.
The building that hides a villa in the attic
One of the great attractions for foreign investors is the heritage hidden within its walls. The property still houses Cambó’spersonal library, a wood-paneled room that preserves the original volumes and furniture. This space is currently used for small-scale cultural events.
In addition, the hotel boasts Barcelona’s first elevated garden, with a villa in the garden itself. It is a green area of almost 1,000 square meters featuring trees and neoclassical fountains. Schroders acquired this asset in 2021 for €93 million and expects to sell it for twice what it paid for it.
The sale comes after a 2025 in which hotel investment in the city reached almost €700 million. Capital from Asia and the Middle East is showing growing interest in buildings that combine exclusivity with historical significance. The Grand Hotel Central meets both requirements, as it remained in the hands of Cambó’s descendants until his grandson, Pau Guardans, finally transformed it into luxury accommodation.
Anyone visiting the hotel will find the panorama. A historic building, former home of a mayor, the city’s first elevator, a garden high above the city, and privileged views of the Borne and Ciutat Vella… which are only for tourists. While we talk about the critical housing situation in the city, perhaps we should also ask ourselves… What do we do with our historic buildings?
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