Investing in our Spanish office portfolio to enhance value

We completed the renovation of 38 Avenida Americas, a 13,000 sq m office building in Madrid, to deliver improved energy performance and offer greater flexibility to the single occupier. We replaced the façade using a locally sourced fire-resistant timber-framed cladding that helped achieve a LEED Gold certification, refurbished the lobby and redesigned the external landscaping. Our investment helped to increase the asset’s value by 27.4% in two years.

We also completed improvement works to the lobbies at Titán 8 in Madrid. The new lobbies on 

the third and fourth floors increase net office space by 57 sq m, improve bathroom accessibility and create a new refuge area for those using mobility aids. Following completion of the project, the building’s valuation increased by €1m.

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