Argentine businessman buys one of Spain’s most historic castles for €10 million

A centuries-old castle in the small Asturian council of Soto del Barco is about to change hands. An Argentine businessman reportedly agreed to buy San Martín Castle for €10 million, reviving speculation among local residents about the future of a fortress closely tied to the town’s identity.

The castle’s construction dates to the reign of Alfonso III. It reportedly rose over the remains of an Iron Age settlement whose origins may reach back to the eighth century BC. Built to protect the coast and the mouth of the Nalón River, the fortress later became a witness to disputes, clashes between noble families and repeated changes of control.

La Nueva España reported that the Argentine buyer acquired the property this month. El Comercio said the deal was unlocked in recent weeks and was expected to be formally signed on Thursday. The buyer’s identity has not been revealed, nor have plans for the site. Commercial and tourism uses are among the possibilities being discussed.

The property had belonged to the Fierro family, a prominent business family of León and founder of Banco Ibérico. The family fortune began with Ildefonso Fierro, who rose from humble circumstances and built a diversified empire spanning maritime transport, finance, construction, matches, mining, insurance and perfumes.

The castle remained in the Fierros’ hands for more than a century, although the property had been on the market for several years. One family member, Cuqui Fierro, is 94 and known for her high-society parties and interest in art.