Green Light For Mango Mega Store on Madrid´s Gran Via

1/02/2014 – Expansion

The plan of the textile chain Mango to convert Madrid´s Palacio de la Música on the Gran Vía Street into its flagship advances. The City Hall of Madrid approved the town planning consultation by Isak Andic on the property.

In the beginning of 2013, Mango started negotiating the purchase of the building with the Caja Madrid Foundation. The property is situated at 35 Gran Vía Street in Madrid (…). The company pursues at taking advantage of the unbeatable localization on one of the principal commercial and touristic streets of Madrid, but also at creating a recreational zone, where Mango could organize exhibitions and other events. Moreover, Governmental institutions could use the space for events. (…).

(…) The building is valued at about €50 million, according to real estate sources.

Due to the fact that the property, built in 1926, is a listed one, Mango will have to hand over a special scheme to reconvert the 6.600  square meter space. (…).

 

Original article: Expansión (Rocío Ruiz)

Translation: AURA REE

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