GPF Capital Real Estate, the newly launched real estate arm of GPF Capital, has exchanged contracts with CBRE Global Investors for the acquisition of the Axis Building, Plaza de Colon, Madrid. The building, formerly Barclays' headquarters since 1971, is currently undergoing significant redevelopment, transforming the office building into an iconic asset in Madrid’s Plaza de Colon. The new building has been designed by Foster +Partners. The purchase price was not disclosed.
The Axis building is located at one of the most prestigious business and communication hubs of Madrid, where Chamberi, Madrid Centro and Salamanca districts converge, and where more than 375,000 people pass through every day. This iconic building of c. 4,000m² GLA is distributed over five floors, with a basement for commercial use and offices, as well as a terrace of 775m² and 15 parking spaces.
Antonio Simontalero, Country Manager for Spain and Portugal at CBRE Global Investors said: “The project we are carrying out in Colon 1 is another example of our ability to source and reposition assets with potential and generate value for our investors. We are very proud of this new building, which will undoubtedly become an icon in the city of Madrid".