Spain’s Popular Party May Sell its HQ in Central Madrid for €60M

12 July 2018 – Eje Prime

The Popular Party could receive a handsome cash injection for the national headquarters that it renovated using dirty money. The sale of the building located in central Madrid could generate up to €60 million for the PP in the event that it decides to sell it.

As one of the candidates to take over the leadership of the party, Soraya Sáenz de Santamaría, explained recently in an interview with La Cope, many grassroots members have told her that, the national headquarters, located at number 13 Calle Genova, was “too big” and that she should “given some consideration” to this matter, according to Cinco Días.

The property is located in the most prime office area of Madrid, which runs from Recoletos to Azca, along Paseo de la Castellana. It is an asset that will spark interest amongst international funds, the most active players at the moment in the Spanish real estate sector, and family offices with significant resources looking to take advantage of the few office spaces that remain available in the area.

Original story: Eje Prime

Translation: Carmel Drake

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