The ReyzÃ¡bal family, owner of the Windsor building, destroyed by a fire recently, plans to raise a new skyscraper after the demolition of the old buildingÂ´s skeleton. The Windsor IIÂ´s project has its profitability guaranteed thanks to the high demand of offices in rent that exists in the center of Madrid, according to the experts.
The destruction of the building has represented the loss of 30.000 mÂ² of offices in the heart of the capitalÂ´s business district, one of the most valued zones. In fact, the family ReyzÃ¡bal was earning â¬500.000 a month for the rent of the building.
The lot will keep the same construction percentage, so the new skyscraper should reach a height of 28 floors, plus three additional ones included in the original project.
Waitting for the expertÂ´s report, it is expected that the demolition works will last between six months and one year, and that they will reach a cost near to 22 millions.
The catastrophe has provoked the reaction of the Government of the Community who already has arranged the inspection of all the buildings of more than 18 floors to verify that they fulfill the regulation on prevention of fires.
Source: Spanish Real Estate