Adif and Repsol put on sale a land plot in Madrid for 27 million euros

The Spanish railway company Adif and the biggest Spanish oil and gas company Repsol announce tender for sale of a land plot in Madrid with initial price of 27 million euros. According to the companies, it is the largest unoccupied land in the heart of the capital with the possibility of fast urban development. This land plot street with total area of 2.107 m2 is located on the Méndez Alvaro street and is supposed to be used for residential houses construction.
Land plot is jointly owned by Adif, which owns 42%, Repsol (21%) and the Junta de Compensación de Méndez Alvaro Norte I (36, 5%).
The decision to sell the land plot coincided with recovery of residential property market in Spain, especially in big cities like Madrid. The owners consider that the land is located in a very interesting area for the real estate development due to its location close to Atocha and Cercanías railway stations as well as Méndez Alvaro bus station.

Source: ElPais