The University of Valladolid is a public university in the city of Valladolid, province of Valladolid, in the autonomous region of Castile-Leon, Spain. The university currently has 31,780 undergraduate students and more than 2,000 teachers. It was chartered by Clement VI in 1346 but claims continuity with the University of Palencia, founded in 1212. It has been an institution closely linked to the city since its foundation, influencing the city's development by the intense cultural and economic activity that it drove. From the beginning it was situated in the Colegiata, later passing to the current location of the Facultad de Derecho on the other side of the plaza. The first building of the University that is notable for its architecture is the one constructed at the end of the fifteenth century, after the move of the institution from the Colegiata and until its new location. It consists of a four sided cloister, which opens up the hallways, and a late Gothic chapel of a certain magnitude. At the cloister one enters through a portal, also late Gothic, that opens to the Bookshop Street.