Leading Real Estate Investment company Kennedy Wilson has received initial permission to refurbish Madrid Town Hall’s Junta de Gobierno.

Located at Plaza Puerta des Sol which sits in the heart of Madrid, Junta de Gobierno is located in a prime position on the busiest corner of the square, and this is bound to attract a number of visitors. The refurbishment will see the location transformed into a flagship retail store spanning seven stories and providing 36,000sq ft in gross lettable area.

Cristina Perez, Head of Spain, Kennedy Wilson Europe has commented on the news: “This is excellent news as the refurbishment and repositioning of this iconic asset will allow us to deliver a globally attractive retail destination in one of the most renowned squares in Europe. The significant number of projects nearing completion in the area, coupled with plans approved and promoted by Madrid City Council to pedestrianise Puerta del Sol square, are set to further define the Plaza as Madrid’s leading retail destination attracting both tourists and Madrid locals alike.”

Surrounded by a number of other impressive flagships including those of Sephora and Apple, the renovated Junta de Gobierno will be in good company to provide the shoppers of Madrid an unforgettable shopping experience.