This lovely building conceived in the Plateresque style has since 2010 housed the Spanish-Portuguese Centre for Heritage Studies, dedicated to the protection, conservation, investigation and promotion of the cultural heritage of Spain and Portugal.

Also known as the Prince's House or Altares Palace, it features a range of elements and spaces of outstanding artistic interest, such as the façade with its carved coats-of-arms, and the Gothic-Renaissance doorway framed by large voussoirs.
On the inside, the courtyard is a splendid example of Plateresque architecture and sculpture; it has two levels of arcaded galleries, again featuring carved crests beside the parapets. Also of interest is the chapel, which at one time contained a delicately carved image of the Calvary by Juan de Juni, today conserved in the Sculpture Museum in Valladolid.
In addition to the Spanish-Portuguese Centre, the palace also serves as a venue for numerous exhibitions, congresses and cultural events.