• Transaction / Assets
    Parroquía de San Jorge, Madrid
  • Seller
    Fundación Condes del Val
  • Buyer
    University Antonio de Nebrija
  • € MM

‘University Antonio de Nebrija’ Purchases a Church in Central Madrid

18 January 2019 – El Confidencial

Worshippers at the ‘Parroquía de San Jorge’, right in the centre of Madrid, will soon have to find another sanctuary in which to celebrate mass. The University Antonio de Nebrija has purchased the plot on which the church currently stands, on Calle Padre Damián 22.

Undoubtedly, an attractive asset for many institutions such as the German School, which had to move to Montecarmelo after it was unable to find a good location in the centre of Madrid, and the IE, which was looking for social land for years, but which is going to end up in the fifth tower of the Cuatro Torres business park, where the Campus IE University is going to be built.

The deal that has been signed a few metres from Paseo de la Castellana is one of the first real estate operations of the year and one of the most noteworthy, due to its location, behind the Santiago Bernabeú football stadium, in the middle of a prime area of the city, as well as due to the type of asset. The owner of the plot until now was the Fundación Condes del Val, which owned not only the land on which the parish stands but also a nursing home of the same name. The price paid has not been disclosed (…).

The plot on which the parish stands is dedicated to social use, and so the future building will have to have a very specific purpose, specifically, likely to be facilities for the university, which is currently located in the capital’s Ciudad Universitaria district (…).

Original story: El Confidencial

Translation: Carmel Drake