Costa del Sol News: Deal is sealed as symbolic Malaga building is sold

Symbolic building now sold: Telefónica headquarters. CREDIT: Google

THE real estate market in Malaga is still in full swing with some of the most symbolic buildings in the city up for grabs including what was the first Telefónica headquarters in the capital, located next to the cathedral.

After a first failed attempt to sell this asset with an initial value of €15 million, the company has finally managed to seal the deal, with sources confirming the sale for around €12 million.

What has not transcended so far is the identity of the buyer. However, the same sources indicated that it is an entrepreneur who has already carried out other operations to purchase Telefónica assets. It should be remembered that the firm activated a plan months ago to get rid of a good part of its headquarters in several Spanish cities, including Barcelona, Madrid and Malaga.

One of the conditions included in the transfer procedure was that the buyer had to agree that the company’s operators currently working in this property, located on Calle Postigo de Los Abades, were still able to occupy it for a period of five years. 

The sale of this property coincides with another of the processes that Telefónica has opened in Barcelona. The group had been in the “competitive process” phase of the sale of its historic building located in Plaza Catalunya in the Catalan capital but finally sold for €100 million to the Basque billionaire based in Switzerland Daniel Maté. 

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Damon Mitchell

From the interviewed to the interviewer

As frontman of a rock band Damon used to court the British press, now he lives the quiet life in Spain and seeks to get to the heart of the community, scoring exclusive interviews with ex-pats about their successes and struggles during their new life in the sun.

Originally from Scotland but based on the coast for the last three years, Damon strives to bring the most heartfelt news stories from the spanish costas to the Euro Weekly News.

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