Hemisphere buys the Saldaña Palace in Madrid for €50M

Hemisphere buys the Saldaña Palace in Madrid for €50M

Hemisphere, an investment group owned by Mexican businessman Manuel González, has closed the purchase of the Palacio de Saldaña, located in the Salamanca district of Madrid, for 50 million euros, according to Expansión.

The Saldaña Palace, located at number 32 Calle de José Ortega y Gasset, has 1,000 square meters spread over four floors and an interior garden of 450 square meters. The building was designed in 1903 by the architect Joaquín Saldaña López and built from 1903 to 1906.

Hemisphere's plans are to undertake a profound reform of the asset (the purchase price already includes the updating work) with the aim that the asset will house a restaurant with an experiential concept between gastronomy and social life.

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