Mapfre sells its headquarters in Bilbao to the Basque Government for €41M

Mapfre sells its headquarters in Bilbao to the Basque Government for €41M

The Basque Government has acquired, for 41 million euros, the Mapfre building in Bilbao, where it will install the new Palace of Justice, the fourth in the Biscayan capital

The new facilities aim to decongest the current judicial headquarters, and could start up at the beginning of the next legislature, in 2024, after a reorganization process in which the Superior Court of Justice of the Basque Country (TSJPV), the Superior Prosecutor's Office and other legal agents.

But first, the property, located at number 28 Calle Ibáñez in Bilbao, will be rehabilitated to adapt it to its new functions, for which an additional investment of 16 million euros is planned.

Known as the Mapfre Building, it has 19,110 sqm, distributed on the ground floor, plus eight floors and an attic above ground level and four basements with a surface area of ​​6,209 sqm. It has a façade facing three streets: Ibáñez de Bilbao, Henao and Plaza del Ensanche.

Designed by the architect Julián Larrea Basterra, the building began to be built in 1972 and its works ended in 1976. It was completely remodeled in 1991; it renovated its elevators and bathrooms in 2007; and its air conditioning installations in 2011. Its first user was Banco de Bilbao. And now it passes into the hands of the Basque Administration after a long process of negotiations that began in January of last year.

At the moment, Mapfre staff continues to work on it, and it will move to a new location before the end of the year, as will the rest of the tenants and companies that currently occupy it.

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