• Transaction / Assets
    Former Military Government Building, Málaga
  • Seller
    Ministry of Defence
  • Buyer
    Antonio González
  • € MM
    4.5

A Businessman from Benalmádena Buys the Military Government Building for €4.5M

18 October 2018 – Diario Sur

The former Military Government building, located at number 6 Paseo de la Farola, no longer belongs to the Ministry of Defence. On 24 September, the deed of sale was signed before a notary whereby this property, constructed in the 1950s and in disuse since the early 1990s, will pass into the hands of a company linked to the Benalmádena-based businessman Antonio González, owner of the 5-star Vincci Aleysa hotel and the Don Gustavo tourist apartments. The Ministry of Defence put the building up for auction for €5 million last year but did not receive any bids for it in the first or second rounds. As such, the lot was opened up to the option of being acquired directly by any interested party at the asking price established in the second round of the auction, and that is what happened in the end.

The property has been purchased for €4,538,987 by the aforementioned businessman behind the Hotel Aleysa in Benalmádena, who has still not explained what he is going to use the building for (…). The property spans a surface area of 2,438 m2, distributed over four floors (the ground and first  floors measure 631.12 m2 each; the second floor spans 597.11 m2 and the third floor measures 202.66 m2) and stands on a plot measuring 1,063 m2, which is classified as for community use, which means that it cannot be used for residential, hotel, commercial or office purposes, unless a modification of the urban development plans can be carried out to modify the use of the plot.

Sources close to the new owner of the property (….) indicate that it is very possible that the building will be renovated and turned into a high-end nursing home for the elderly, in the form of sheltered housing with the corresponding medical and social support. “We think that this is a very good location for that”, said the sources, who admitted that this option would avoid the need to undergo any urban development processes, which could take at least a year and which would force the businessmen to establish some kind of economic or land compensation for the loss of a community space for the city. Another option could be to dedicate the property for use as a private clinic relating to the world of aesthetics and wellbeing, in which other businessmen are also interested.

Plans

In any case, the intention of the new owner of the Military Government building is to define his plans over the coming months so that the building can be used once again (…).

Original story: Diario Sur (by Jesús Hinojosa)

Translation: Carmel Drake

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