CEU buys the building of the former Capitolio cinema in Elche for €4M

CEU buys the building of the former Capitolio cinema in Elche for €4M

Higinio Marín, rector of the CEU Cardenal Herrera University of Elche, has confirmed the purchase and sale of the emblematic building on Trinquet Street where the old Capitolio cinema was located and which until 2020 was occupied by the Zara franchise. The purchase, which has been made with the intention of being able to offer dentistry, has been closed for an amount of four million euros, according to various media reports.

Marín also pointed out that the process to formalise the registration process is underway, as well as the procedure to apply for the building permit. It is expected that the facilities will be operational by the next academic year, so it is estimated that the refurbishment work will begin shortly. In addition, the project for the refurbishment of the asset has also been drawn up and budgeted for.

Likewise, the rector has specified that the agreement was closed some months ago, although he does not know if the final signature has been generated from Valencia, where the negotiation has been carried out, as there have been difficulties in holding meetings with Amancio Ortega, the owner of the building until now through his company Pontegadea Inversiones. He had also previously rejected a binding offer, and a survey by the City Council, which proposed the asset for cultural use.

Finally, Marín pointed out the university's need for this third site in the city, which could house approximately 400 students per shift. The possibility of implementing other degrees in the future, such as Psychology, in this asset is also being studied.

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