Completed in 1992, the landmark office development has some of the city's largest floorplates (38,331 sf) and sits on a prominent site in the heart of Madrid's Castellana Extension, adjacent to a major transport network. Across the street, a four-tower office developmnent is planned that will include a new major hotel and a sports pavilion to assist in Madrid's bid to host the 2012 Olympic Games.
"This is a unique opportunity with a AAA tenant in what is considered Madrid's most prominent area and set to be consolidated as the City's financial centre," says Borja Sierra, director of FPDSavills Madrid, which advised the sellers. "The future alternatives open to the owner on the current lease structure plus the building's architectural quality is a unusual guarantee in today's uncertain property market."
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