Peruvian conglomerate Grupo Romero has submitted a bid of approximately $260 million for Telefónica’s historic headquarters in Madrid, according to multiple reports emerging this week. The offer, valued at €225 million, is considered among the most competitive in the ongoing sale process for the building located on Gran Vía 28, which contains roughly 32,000 square meters of space across 13 floors.
The potential sale is part of Telefónica’s broader strategy to streamline its assets and improve its financial position, according to Semana Económica. Several international investors are reportedly vying for the property, including Terralpa, Generali, and Bain Capital, but Grupo Romero’s offer has emerged as a leading contender.
According to vozpópuli, a Spanish news outlet, a decision regarding the buyer could be made during March. The building’s value has been affected by existing urban planning restrictions, impacting the potential for future development.
Grupo Romero’s interest in the property reflects a broader trend of Peruvian investment in Spanish real estate. The holding company, a significant industrial and financial group in Peru, has been actively seeking opportunities in Europe, though specific details of its European strategy remain limited.
Telefónica has not publicly commented on the specific bids received, and the company has yet to announce a timeline for finalizing the sale. The outcome of the auction remains uncertain, with multiple parties still in contention for the landmark building.
