Banco Popular has sold the Banco de Andalucía’s former headquarters located next to Avenida de la Constitución and Plaza Nueva in Madrid to Drago Capital for €25m. The property offers 8,300 sqm of surface area and had been on the market for several years. The buyer plans to renovate the building and convert its upper levels into a hotel. Drago Capital will also create 2,000 sqm of leasable retail space on the ground floor of the building.
