The mythical Teatro Barceló has starred in one of the most high-profile sales of the summer in the Spanish capital. Entrepreneur Pedro Trapote has sold the property for 24 million euros, although he will continue to operate the epic nightclub. According to El Periódico de España, Trapote has signed a rental contract for the space for the next twenty years and, in addition, has the option of repurchasing the property for the next five years.
The Barceló Theatre, which is renowned for its legendary parties and for being an iconic venue during the “movida Madrileña”, spans a surface area of 32,000 square metres and enjoys an excellent location at number 11 Calle Barceló, Madrid. The club reopened its doors following a renovation earlier this year and now, Trapote (who is Felipe González’s brother-in-law) has closed the sale of the property, which he acquired in 1996.
Read the full article in Spanish.