Renta Corporación has sold the plot for the Gran Vía 48 building in Madrid

Renta Corporación has sold the plot for the Gran Vía 48 building in Madrid

Renta Corporación has sold the plot that used to house Banco Atlántico’s corporate headquarters in Madrid, located at number 48 on Madrid´s central Gran Vía.

The building was acquired by Renta Corporación on March 2006 and the company has carried out a double transformation process over these months.

The first and most complex process was to analyse the feasibility of different alternative uses for the building and its configuration, developing different alternative projects until proceeding with the selection and development of the chosen option. The company has also handled the processing of the corresponding planning permission, a key element for the transparency and liquidity of the project as an investment opportunity. Renta Corporación engaged the renowned architect Rafael de La-Hoz to develop the project.

The second process, at a physical level, was to demolish the building once the corresponding licence had been obtained.

The project’s building volume covers an approximate 10,000 square metres above ground level with 12 floors. It also has car parking with 200 spaces.

Barcelona, 1 February 2008.