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GPF Pays €35 Million for Former Headquarters of Banco Madrid

The former headquarters of Banco Madrid will undergo a comprehensive refurbishment following its sale by Banca Privada de Andorra.

Paseo de la Castellana 2 1

The Spanish fund GPF Capital has finalised its acquisition of the former headquarters of Banco de Madrid. The iconic building in Plaza de Colón, in Plaza Margaret Thatcher, was sold by Banca Privada de Andorra. The fund paid 35 million euros.

The building has a surface area of 1,850 square metres, spread over four floors, and a terrace on the roof. GPF intends to carry out a comprehensive refurbishment of the premises to align with other assets in the area.

The former headquarters of Banco Madrid is located on the corner of Paseo de la Castellana 2 and Goya 1. The area is currently little trafficked, but with this new property, it is hoped that the neighbourhood will undergo a reconversion that will attract new projects and new pedestrians. The design will have as its first aim to open up spaces to the public.

Read the full article in Spanish

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