PSE-EE and Eibar's EAJ-PNV reach agreement to purchase former El Corte Inglés building

The Eibar City Council will acquire the property for 9 million euros plus VAT, financed by a loan, and plans to create parking spaces and value-generating activities.

Generic image: Facade of a large, closed department store building in a European city center, with 'For Sale' signs visible, overcast sky, documentary photography style.
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Generic image: Facade of a large, closed department store building in a European city center, with 'For Sale' signs visible, overcast sky, documentary photography style.

The Eibar City Council, thanks to an agreement between PSE-EE and EAJ-PNV, will purchase the former El Corte Inglés building for 9 million euros plus VAT, to be financed by a loan.

The Eibar City Council, thanks to an agreement between PSE-EE and EAJ-PNV, will purchase the former El Corte Inglés building for 9 million euros plus VAT. The property, which has been vacant since it closed its doors on July 30, 2021, will provide the public with nearly 700 parking spaces and will house an activity that generates value.
Mayor Jon Iraola has described the operation as "strategic" and stated it is "what the citizens are waiting for". Alberto de la Hoz, spokesperson for EAJ-PNV, emphasized the priority of making the parking spaces available "as soon as possible" and giving the building "an activity that generates value".
Vanesa Hortas, spokesperson for PSE-EE, explained that they have been in a negotiation process for the building's ownership since its closure, and have also worked on "projects that would respond to the city's current and real challenges and needs".
The purchase will be made for 9 million euros plus VAT and will be financed through a loan. De la Hoz stated that this announcement culminates "a process of many months of work and analysis", supported by "technical and economic reports" from municipal technicians.
Now, the government team will initiate the necessary procedures to manage the loan and, once financing is obtained, proceed with the definitive purchase. Both parties agree that the acquisition should take place before Christmas.
For greater transparency, an appraisal of the building by an external company will be included in the file. Hortas thanked El Corte Inglés for their interest in facilitating the operation and closing the purchase conditions.
De la Hoz added that the building will provide Eibar with the facilities it needs for its development and that "opportunities that generate value for Eibar and Debabarrena" will be sought, without forgetting other municipal investments.
Mayor Jon Iraola concluded by stating that "giving a second life to this space is not just a challenge, it is a necessity that the citizens have been demanding". "Our duty would be to turn the building into a historic opportunity to attract employment, retain local talent, and improve essential services", he added.
Based on information from the official source: Ayuntamiento de Eibar (16/10/2026)