Colonial purchases a new building in Madrid

27/06/2016

Colonial purchases a new building in Madrid

Colonial has purchased a new office building in Madrid CBD, in calle Santa Engracia 120. The building houses well-known companies such as the central offices of NH Hoteles, and has a surface area above grade of more than 13,430 m² and 180 parking spaces. The building is currently 95% occupied so it will bring in rent for the Colonial group from the start, at a time when the office market in Madrid CBD is enjoying a good period.

The purchase of this building means the addition of a high quality office building in a market with a real product shortage in Madrid CBD. The layout of the building's floors, of between 1,500 m² and 2,000 m², is very rare in the market and highly sought after by companies. These characteristics mean that with this operation Colonial has acquired a unique high-profile building in the Madrid business district.

Colonial plans to invest in the remodeling of the building in order to reinforce its positioning and obtain the greatest possible energy efficiency and sustainability.

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