Santander generates 85m euros from sale of Madrid buildings
Banco Santander has generated a gross capital gain of approximately 85m euros from the sale of a group of buildings in Madrid, according to a statement issued by the bank on Friday morning.
Banco Santander has generated a gross capital gain of approximately 85m euros from the sale of a group of buildings in Madrid, according to a statement issued by the bank on Friday morning.
The buildings, known collectively as the Canajelas Complex, include calle Alcal No.s 6, 8, 10, 12, 14, Carrera de San Jernimo No.7 (formerly No.9) and Plaza de Canalejas No. 1.
The total consideration amounted to €215m. In addition to the sale price, the consideration included a financial consideration arising from the payment deferral offered to the buyer which was calculated at a 5% annual nominal interest rate.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Without including the financial charge, the sale price was €198.18.
Banco Santander stated that it would continue to occupy the Canajelas Complex for an additional maximum period of five months, without accrual of income or consideration.
MF
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Twenty 'finfluencers' questioned under caution by the UK regulator
The individuals were interviewed voluntarily using the Financial Conduct Authority’s criminal powers
By Chris Newlands Published
-
Number of ISA millionaires triples in three years
The number of people with £1 million in their ISAs has tripled in three years to reach 3,180. But could next week’s Budget put an end to future ISA millionaires?
By Ruth Emery Published