Spectacular segregable property in Recoletos Prime

The Salamanca – Recoletos neighbourhood is characterised by its wide streets and elegant buildings. It also stands out for its stately facades, which make Madrid one of the most European capitals in terms of classic and avant-garde architecture. The Salamanca neighbourhood is undoubtedly one of the most elegant and prestigious residential areas on the European continent. Created in the mid-19th century by the marquis after whom it is named, over the years it has been home to the most illustrious personalities and the most prestigious shops in the city, both international designers and Spanish haute couture boutiques. Just by walking one square kilometre of the so-called Golden Mile, you have the biggest and most important fashion, decoration and jewellery firms within your reach. An exclusive shopping area that can be identified with the Fifth Avenue in New York or the Faubourg Saint-Honoré in Paris and some of the most important museums in the capital, such as the one located in front of the property, whose gardens can be enjoyed from the main façade. The proximity of the Retiro Park gives this area of Recoletos an added value compared to the Salamanca neighbourhood.

The property has a west facing front façade and an east facing rear façade that overlooks a future garden that will be built in the near future.

Unique opportunity to acquire a palatial property in a protected building exempt from IBI, with an unbeatable location. Six balconies and more than six hundred metres built that can be segregated into two dwellings or office plus dwelling. It has two large storage rooms of twenty and thirteen metres in the basement and roof of the building, which, together with the common area at the rear of the building, will also be adapted as a garden area. Magnificent unique option in an unbeatable location.

This is a property ready for renovation with a palatial chassis that is difficult to find in Madrid, with ceilings of more than three and a half metres and six large balconies overlooking one of the main arteries of Recoletos. Two projects have been approved for landscaping the rear area of the building and the roof terrace where one of the storage rooms of this property of around fifteen square metres is located. In the basement there is another storage room of twenty square metres. The possibility of segregation contemplates several options to recreate two dwellings or a combination of dwelling plus office, or to project a single large-format dwelling. One of the few remaining in the capital of more than six hundred metres square built, in a protected building exempt from IBI with a favourable ITE of 2020.

The Recoletos neighbourhood is always a safe investment, due to the high demand for this type of classic property in a protected representative estate. Acquiring an XL segregable asset in this neighbourhood means having a safe, unique and singular real estate asset that does not suffer the market fluctuations that can affect other areas.