And post Instagram with white letters on a black background. It starts with “we are moving”. End with “we count on our support.” Signature Elektra Comicone of the most emblematic comic shops in Madrid since it opened on San Bernardo Street 29 years ago. The owners of this business say that an investor has offered double what they were paying until now for the rent of the premises and that their intention is to put tourist housing in its place. When asked by this newspaper, the owner of the premises neither confirms nor denies this point. “I can’t say,” he says. The bookstore is unable to match such an aggressive offer.
With its message, published on Tuesday, Elektra Cómic announces two things. The most obvious, his expulsion from the premises for not being able to pay the rental fee despite his business success. The most subtle one is that the problem of rising rents does not only affect homes. The closure of commercial establishments is transforming the physiognomy of cities.
“The street loses a lot without you,” reads one of the almost 130 comments accumulated in the farewell publication. “Too bad. That store has been a mandatory stop on all the trips I make to Madrid for years,” says another. Alberto Simón, one of the owners of the business, says that they do not know where they will move because they have not yet managed to find anything, even though they have been looking for another location since June. They hope to continue being in the center, but they expect that their store will be smaller than the current one, which is 250 square meters.
In the summer, the owner of the space told them that they had offered her 4,500 euros to rent the premises. They paid 2,469, a fairly economical price considering the size of the establishment and the area in which it is located, a few meters from Gran Vía. Furthermore, the owner had never raised their bill, not even in relation to the CPI. “It is a lower price than the market, but we provided a lot of stability,” explains Simón. “We have never been late with payment,” he adds.
According to Simón, both the owner and the building manager told them that the investor’s purpose is to put up tourist homes. The building was always dedicated exclusively to offices but, since the pandemic, vacation apartments began to appear on several of its floors. Simón does not know if there is a person or a fund behind the offer and the owner of the premises has not clarified it when speaking with this newspaper. Nor if your intention is to put up tourist homes.
One day two people came into the bookstore. One was the administrator of the building where the business is located and the other, a man who said he had come to process the Technical Building Inspection (ITE) of the premises. It was a lie. “They were appraising it,” says Simón. This technique is not new. Passing off experts as inspectors is quite common when calculating the value of homes with tenants inside, since they can decide who enters your home and who does not while your lease is in force.
Shelves of the Elektra comics store in Madrid, this Wednesday.Pablo Monge
Currently, the regulations allow changing the use of commercial premises to tourist homes through a license and this type of business is also allowed if they have a separate entrance, different from the rest of the building. But with the new regulations, which will come into effect from June next year, these types of licenses will not be granted within the central area. In any case, in Madrid, only 7% of holiday apartments are legal, according to the City Council.
In the area near San Bernardo Street, where Simón’s store is located, the core of Madrid’s comic culture is concentrated. In a radius of 100 meters around Elektra is Otaku Center, a bookstore specializing in manga – Japanese comics that are read from right to left – another called Generation X and a new one called Atomizados. There are also stores where books are not sold, but which are part of the world. This is the case of Atlántica, specialized in action figures.
Simón explains that they will wait until the Christmas season is over before leaving. When the time comes, they will have done everything they can to stay in the area, although they know it will have to be in a much smaller location. “We were working well and we are going to continue,” says Simón. The bookstore’s followers will go wherever it moves, at least that’s what they promise in the comments of the post parting.
What specific actions can the local government take to prevent small businesses like Elektra Comic from being pushed out due to rising rents?
Introduction:
Good morning! I’m delighted to have you both here today. I’m interested in discussing the recent news regarding the closing of Elektra Comic, one of the most popular comic shops in Madrid. Could you both provide some background information on the situation and your thoughts on its impact on the city? Additionally, we could talk about the issue of rising rents and commercial establishments’ struggles in Madrid.
First guest:
Sure, I’d be happy to provide some insights. I’m Alberto Simón, one of the owners of Elektra Comic. We had been operating in our current location for 29 years and had a very successful business. However, we recently received notice that the rent was being increased to an amount we couldn’t afford despite our commercial success. On top of that, the landlord informed us that they intended to convert the space into tourist housing, which would significantly alter the area’s character. This led us to announce our closure on social media and seek out a new location in the city center.
Second guest:
Of course. I’m here as well. My name is Maria, and I’m the owner of another small business in the area. We’ve all been faced with similar problems due to the rise in rent prices. It’s disheartening to see how investors are influenced by tourism rather than sustaining local establishments like ours. These changes threaten the cultural identity of neighborhoods like ours. How do you feel about this issue?
Alberto:
We completely agree. It’s not just about losing our business; we’re losing the essence of Madrid. The city becomes just another tourist attraction instead of a place filled with local character. We understand that tourism is essential for economic growth, but at what cost? The preservation of these small shops and unique businesses makes a city interesting in the first place.
Maria:
Absolutely! Tourism shouldn’t be prioritized over preserving cultural heritage and supporting small businesses. It’s heartbreaking to see these establishments closing down because they can’t keep up with rising costs and being pushed out by investors seeking quick profits.
Interviewer:
That’s an excellent point. It’s a delicate balancing act between promoting economic growth and
