The Duke of Lerma buys Valdemoro Historical milestone · Valdemoro, Comarca Sur, Madrid Image of Valdemoro, not of the place itself. The favourite of Felipe III acquired the town, which Felipe II had detached from the archbishopric of Toledo in 1577, and gave it impetus by instituting a fair and raising in 1605 the Fuente de la Villa to supply it. 1602 Photo: Zarateman (CC0) What to see and do in Valdemoro