Overview
- Grupo Paraguas has closed the purchase of the former Logos building at 10 Calle San Francisco in Oviedo, which has been shuttered since 2006.
- Sandro Silva says the project is in its early stages, with the initial idea to bring the Madrid concept Ultramarinos Quintín to the lower floors and reserve upper levels for tourist apartments.
- Sources close to the deal estimate about €4 million for acquisition and refurbishment, and the building’s condition will require a major overhaul that could span roughly two years.
- The addition would raise the group’s active venues in Spain to 11, alongside four abroad, with around €100 million in 2024 revenue and a workforce near 2,000.
- The Oviedo plan comes as the company advances other rollouts, including the Jan. 21 opening of Club Metrópolis in Madrid and Amazónico expansions, with Riyadh still pending.