Crowdfunding
The Owner of Ramses Launches a Crowdfunding to Convert a Bookstore into a Cafeteria with a Spa
Jorge Ramsés, a key figure in Madrid’s hospitality scene, will transform the old Hiperión bookstore into a spa-café via crowdfunding on Wecity, seeking €2.2 million. This new venture adds to his empire around Plaza de la Independencia. Despite past controversies, Ramsés offers significant collateral, aiming for a 12% annual interest return for investors.
New real estate operation by Jorge Ramsés, the ‘king’ of the hospitality industry in Madrid’s Puerta de Alcalá. The owner of Grupo Ramses will buy the premises where the old Hiperión bookstore was located, at number 14 Salustiano Olózaga Street, next to the Plaza de la Independencia and in front of the French Embassy, to transform it into a cafeteria with a spa.
However, on this occasion, they have asked for help from external capital: Ramsés will finance the acquisition and renovation of the establishment with crowdfunding , through the Wecity platform, from which he requests 2.2 million euros.
The old Hyperion, closed for months and known for the sale of poetry books, will have a second life. According to the documentation accessed by activos, the premises, which have a gross leasable area of 204 square meters and a façade of nine and a half meters, will be operated by Six Harmonies , the spa and wellness brand of the Ramsés Group, and will include a cafeteria focused on personal care and an event room .
This establishment joins the empire that Jorge Ramsés has created in the Plaza de la Independencia and its surroundings
That includes restaurants such as Ramses, Patio de Leones (Spanish food tavern), Lady Bongo (karaoke with a marine atmosphere), The Kave (cocktail bar ) or Flamenco de Leones (tablao flamenco), and hotels , such as Casa Faraona, which he describes as “Flamenco Membersclub & Hotel for those who like to live life in a flamenco way.”
The street of the property, Salustiano Olózaga, is one of the arteries that connect with the Plaza de la Independencia , in the heart of the Salamanca neighborhood, a few minutes walk from the National Library, Plaza Cibeles or El Retiro, and next to the shops of important luxury brands on Serrano, Ortega y Gasset, Claudio Coello, Lagasca or Ayala streets.
Jorge Ramsés’ businesses have not been exempt from controversy in the neighborhood . Without going any further, in July 2022, he was involved in a confrontation with José Fernández Sánchez, currently a PP councilor in the Madrid City Council, for expanding the terrace of one of his premises by invading public roads. Previously, Manuela Carmena closed the Ramsés terrace for failing to comply with the regulations and occupying more space than allowed, to which the restaurant workers chained themselves in protest.
The numbers of the operation
This is how the email that Wecity crowdfunding sent to its investors began, inviting them to participate in a new project, which will accept capital starting next Thursday, May 16th at 12 in the morning. Behind this opportunity is the sole proprietorship limited company Residencial Plaza de Independencia 2, controlled by Ramses District and, in turn, by Circus Group, which will use the money to buy and rehabilitate the aforementioned commercial premises. Garrigues, Pinsent Masons and Lawgic participate in the operation as advisors.
This money will be given as a loan, with a duration of nine months, at an annual interest rate of 12% : an investor who lends 10,000 euros will obtain 900 euros in interest, which will be satisfied once the term ends, if the project comes to fruition. This profitability can even be increased: the credit has a minimum duration of six months and the possibility of an extension of half a year, which will accrue interest of 15%. The repayment of the loan will be closed when a bank provides traditional financing to the asset.
As collateral, in case of non-payment, Ramses offers numerous assets
The first, the acquired premises itself , which has been valued at 2.09 million euros by the appraiser of the consulting firm CBRE. The hospitality group has contributed 445,000 euros, which, together with the 2.2 million requested from Wecity investors, add up to the 2.64 million necessary for the execution of the project.
In addition, it will mortgage as a second rank the commercial premises located at number 11 Salustiano Olózaga Street, valued at 2.05 million by Savills, 18 parking spaces at number 12 of the same artery , valued at 1.25 million, and the premises adjacent to the purchased one, number 14 center, whose value amounts to over 160,000 euros. In total, once all charges have been deducted, the guarantee provided by the developer is 3.85 million.
__
(Featured image by hoahoa111 via Pixabay)
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in activos. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us
-
Biotech1 week ago
Oryzon up 3% After Progress in Trial of Its Drug for Personality Disorder
-
Business2 weeks ago
The Nuanced Differences That Make Specific Online Casinos Stand Apart From Others
-
Biotech6 days ago
Alfasigma Gets Green Light for Commercialization of Jyseleca in Europe
-
Fintech1 week ago
Qonto Launches in Austria and Three Other European Markets