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The PP’s Hidden Treasure: its Génova Headquarters Could be Worth €55 Million

The PP has announced that it is vacating its headquarters in Madrid, which it bought from the insurer Mapfre in 2006 for 37 million euros. But how much could it obtain from the sale?

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The PP’s headquarters on Calle Génova in Madrid.

The President of the PP, Pablo Casado, made the surprise announcement on Tuesday that his party is going to vacate its headquarters on Calle Genova, which has been its home since 2006, when it acquired the property from the insurer Mapfre for 37 million euros. Until 1983, the party’s headquarters had been on Calle Silva, also in the centre of Madrid, before it was moved to its current location, which the PP leased from Mapfre until the purchase.

The court case regarding the payment for some of the renovation work using ‘dirty money’ and the debt of almost thirteen million euros that the party still owes for its purchase, have apparently been decisive in the decision.

Read the full article in Spanish.

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