The Soges Group has taken over the Malaspina and plans to rebrand it a Place of Charme.
Three major operations completed in a month
The intense activity of the Soges Group continues. Following its debut on the stock market last June, it has now completed its third operation in about a month (the others were the Park Hotel Chianti and the Art Hotel Atelier in Florence. Ed.) Now the Tuscan company has signed a nine-plus-nine lease agreement for the management of the Hotel Malaspina in Florence.
Aiming to reopen as a Place of Charm in April 2025
The hotel is in the historic centre of Florence and has been closed since the Covid period. Currently it has 31 rooms, nine of which are singles and 22 doubles, but it will undergo major work by Soges to upgrade its energy efficiency and make over the interiors. The aim is to reopen to guests under the Place of Charme brand in April 2025.
“The property has enormous potential”
The agreement envisages a rent of €280,000 per annum for the first two years, €270,000 for the 3rd year, €220,000 from the 4th year and €250,000 from the 10th year. The effectiveness of the agreement is, however, conditional on the execution judge issuing the authorization to sign the agreement by 30 September. The property where the Hotel Malaspina is located is in fact currently subject to foreclosure. “The management of Hotel Malaspina is an important step forward for us,- says Soges Group CEO Andrea Galardi. -It is a redevelopment project of great value. The property has enormous potential, and we are thrilled to bring it back to life. Our decision to invest in this property is strategic because it consolidates the Place of Charme brand in Florence.
