A symbolic hotel in Zaragoza was purchased for 5.4 million euros.

New real estate operation in Zaragoza. The AZ Orus Factory, widely known in the capital of Aragon as the Hotel Orús, has a new owner. According to the newspaper, Propiedades Turísticas Zaragoza SL sold this symbolic property for 5.4 million euros to the French collective investment company SCPI Comète.

The sale appears to have taken place in July using a “sale and leaseback” formula. this means that the hotel will continue to operate under the same AZ Alojamientos brand.which has a wide selection of hotels, hostels and apartments in Zaragoza. The transaction was advised by aCapital Management and the property passes into the hands of Athol Asset, the company with which SCPI Cométe works in Spain and which already manages a portfolio of assets worth more than €150 million.

The property has already appeared on the company’s website. This emblematic hotel is located at Escoriaza y Fabro street, 45. It has an area of ​​3694 m2, has 55 rooms and 45 parking spaces.

The French company highlights the proximity to Portillo, “which will benefit from significant improvements thanks to the transformation of the surrounding area into a public park of 40,000 square meters.”

Emblematic hotel in Zaragoza

Although no changes are expected to the structure and management of the Orús Hotel (at least in the short term), it is worth highlighting the history of this hotel establishment. In 1913, at the height of the Industrial Revolution, the Casa Orús coffee and chocolate factory was headquartered here. His design, bearing the stamp of Julio Bravo, is one of the best examples of industrial architecture of the early 20th century. In fact, even the cinema replicated its silhouette thanks to the film Guilty of a Crime by José Antonio Duce, in which the building can be seen in a sequence filmed nearby in 1966. Of the entire complex, it attracts attention with a brick facade with semicircular arches. All these elements are combined with arguments from Baroque and Aragonese Renaissance art. The icing on the cake is the two impressive towers on either side.

The hotel has not undergone any external changes, but its interior has been updated. After working in a chocolate factory, he devoted himself to the cardboard industry.to give a decisive boost to hotel services. In 2002, the Department of Culture and Tourism of the Government of Aragon declared the old factory a cataloged site of Aragonese cultural heritage.

It has also had various uses throughout its recent history. In 2016, after two years of closure, it reopened its doors as the New Horus Hotel, formerly part of the NH chain. with a long-term approach to living, but with certain differences compared to residential, and are aimed at retirees, widows or even students.

Subsequently, its activities were again paralyzed by the pandemic, a moment that AZ Alojamientos took advantage of to renovate some areas of the hotel. It was then that its name was changed to AZ Orus Factory Hotel and, taking advantage of its new life, it took part in the program to welcome Erasmus students from all over Europe.

Other real estate transactions in Zaragoza

During the year, many real estate transactions took place in Zaragoza. The latest and most notable was the purchase by 18 investors from the capital of Aragon, Huesca and Madrid of the large premises occupied by C&A and Stradivarius on Paseo de la Independencia, one of the most desirable in the city, covering more than 2,000 square meters. square on the corner with Cinco de Marzo street. The amount of the payment exceeded 16 million euros.

At the beginning of the year, another major operation was added to Zaragoza’s golden mile. The Lobe Group has acquired the iconic Independentencia 37 building to house serviced apartments, a new method in the Aragon capital of providing hotel services in an apartment building. Although there is no specific time frame for the development of the project yet, The developer will renovate the property in accordance with the Passive House standard. and will give new life to this building.