Felipe VI and Letizia and the pharmacy of Menorca: the data on the inheritance of the businessman Llabrés and the Hesperia Foundation

The Kings Philip VI y Joy They travel to the island of Menorca this Thursday, January 12. This is a very special event, since are going to officially inaugurate the Llabrés pharmacy, a building that is a symbol of modernist architecture and historical heritage since 2009. The monarch and his wife, then Princes of Asturias, inherited this property at the express will of the Menorcan businessman Juan Ignacio Balada Llabrés. Now the old pharmacy, restored, is the headquarters of the Hesperia Foundation for people with disabilities. Continuing with the transparency policy, Casa Real has published this Wednesday, January 11, all the data on the inheritance received, the foundation, actions, projects, agreements, donations and settlements. These are the data.

The Kings will travel on Thursday 12 to Ciutadella (Menorca). On Carrer Jussep María Quadrado stands the historic Llabrés pharmacy, whose rehabilitation works were completed in June last year and amounted to an amount of 899,463 euros.

The building, with wooden doors and stained glass windows, will host workshops and conferences for cultural, social and educational purposes and will be managed by the Hesperia Foundation for people with disabilities.

The Kings inherited this property, which belonged to the businessman Balada Llabréswho died on November 18, 2009. According to Casa Real, He named the princes of Asturias as heirs to half of his estate, in equal parts. and to the eight grandchildren of the Kings. He left the princes in charge, with the other 50%, a general interest foundation. The Insular Council of Menorca agreed to register the Farmacia Llabrés in the Insular Catalog of Historical Heritage of Menorca. Balada provided in his will that, if the heirs renounced the inheritance, it would pass to the State of Israel.

Chronology

Following the instructions of the employer, Don Felipe and Doña Letizia established the Hesperia Foundation on April 23, 2010. That year the Princes of Asturias publicly announced that the part that could correspond to them in the inheritance of Balada would be used entirely “for social purposes”. The assets of the foundation amounted, as of December 31, 2014, to the amount of 5,718,246 euros.

In 2011, the foundation’s first Action Plan was devoted to social projects for children and young people for 275,000 euros.

In 2012 Don Felipe and Doña Letizia donated to the Hesperia Foundation his hereditary rights over the real estate integrated into the patrimony of Juan Ignacio Balada. In this way, the part of the properties that had been awarded to them in the partition, equivalent to 164,789.86 euros, became part of the Foundation’s assets.

Additionally, Don Felipe and Doña Letizia have made donations to the foundation that reached the figure of 397,997.87 euros. An amount to which should be added the amounts that Their Majesties paid for inheritance and gift taxes as follows: the King, 349,595.92 euros; and the Queen, 332,948.49 euros.

In subsequent years, there have been actions of a social nature and in defense and conservation of the cultural heritage of Ciutadella and the Island of Menorca. Among the contributions of 2022those carried out in May stand out, destined for two specific projects of the Spanish Red Cross: €100,000 for the rehabilitation of family homes affected by the La Palma volcano; €100,000 for the Ukrainian refugee reception project.

The foundation has also signed agreements with the Spanish Association Against Cancer, the FEDER Foundation, the Spanish Red Cross and the Sisters of Charity San Vicente Paul Naum (Palma de Mallorca), among others.