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El Corte Inglés places two office buildings for sale in Madrid
12 April 2019 | Vanessa Sousa

Keeping with its divestment path, El Corte Inglés places two more assets on the market, two iconic office buildings in Madrid. So far, the company hasn’t disclosed the selling prices.

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One of them has the company’s shopping department installed in it, reveals ElConfidencial. The asset is located at Hermosilla street in front of the group’s headquarters and has a 20.450 sqm area.

The other is the Marbella building, with 6.200 sqm spread out through nine floors and three attics. This asset, which is located at number 100 Santiago de Compostela street, is currently the headquarters of Madrid’s Provincial Court. The future owner can thus count on a stable tenant which will guarantee an annual rent of approximately 1 million euro.

These decisions fit the group’s latest divestment plan, which reduced to 95 the number of assets on sale. El Corte Inglés’s goal is to reduce its bank debt which surpasses 3 billion euro.