Franco’s lineage continues to accumulate wealth: two great-grandchildren will sell luxury apartments in Velázquez 53

The sons of Mariola Martinez-Bordiuthe second granddaughter of the dictator Francisco FrancoThey are going to build luxury apartments at number 53 in the central Velázquez street in Madrid, and they are going to kick out their current tenants. Brothers francis de borja y Jaime Ardid Martínez-Bordiú They have joined the real estate fever in the most expensive and exclusive area of ​​the capital, and once the building has been transformed, they will sell a dozen spacious and luxurious homes for more than 12 million euros each.

Both great-grandsons of the coup general have already informed all the tenants of the property that they are not going to renew their rental contract. Among those affected are some important business firms, such as GBS Finance, a company that has been installed in the building for 30 years, and whose contract, like the rest, ends between this year and 2024.

As stated in The confidentialthe purchase of Velazquez 53 cost between 60 and 64 million euros to the company ARD V53, 100% owned by ARD-ID Investment & Development, the family holding company of the children of Mariola and Raphael ArdidJaime, Javier y Francisco. The project will have six floors, two houses per floor that will have between 350 and 390 square meters each. It also has 12 storage rooms and 22 parking spaces.

Upon completion of the reform, the brothers will be able to sell these apartments for a price of between €13,000 and €15,000 per square meter, and between €18,000 and €22,000 in the case of the penthouses, so they can collect profits higher than the 80 million euros. The current rental prices, some of which are already old and signed in 1998, would be between 3,500 euros per month for the mezzanine, up to 12,500 euros for the penthouse, prices without VAT, which means total rents for the entire building of more than 75,000 euros per month.

Great-grandchildren also of a Republican

ARD V53 is a new company that owns other family companies, all related to the hotel business, tourist apartments and real estate. They are, for example, the businessmen behind the purchase and subsequent sale of the Gran Hotel Velázquez located at number 62 on the same street.

Mariola Martínez-Bordiú is the granddaughter of Franco and Carmen Polo not divorced, more discreet and more reluctant to be photographed. She married Jaime Ardid Villoslada in 1974, who was a grandson of Republicans sentenced to forced labor, and was the last liaison Franco attended in El Pardo.

Mariola is an architect by training and she and her husband have always had a relationship with real estate investments. In addition to the recent investments of his children, he made news in 2019 because the existence of a brothel was discovered, in which 23 women forced to practice prostitution were released, on his property located at number 133 of Paseo de las Delicias .