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.

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

Recommended

Share tips of the week – 24 September
Share tips

Share tips of the week – 24 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
24 Sep 2021
Three strong Asian stocks trading at bargain prices
Share tips

Three strong Asian stocks trading at bargain prices

Professional investor Nitin Bajaj of the Fidelity Asian Values investment trust picks three stocks that dominate their industries, earn good returns o…
20 Sep 2021
Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021

Most Popular

Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021