26/08/2014 – Expansion
Banco Sabadell tidies up its real estate in Madrid. At present, the entity‘s main branches are scattered around the capital, housed by eleven rented or owned buidings.
The bank decided to gather all its services in one place – the Las Tablas neighborhood. It is predicted that Sabadell‘s 550 employees will move there in January. The operation will bring €2 million savings on rental payments annually.
The new headquarters of Sabadell in Madrid will be placed in the old premises of Vodafone encompassed by the Parque Empresarial Castellana Norte (the North Castellana Business Park). The phone operator had moved to a building on the Avenida America street, developed by Sabadell‘s servicer Solvia itself. Once Vodafone occupied the property, the bank sold it to British fund London & Regional for €117 million. In turn, Sabadell assumed the rental agreement of the Las Tablas building the operator had with the GMP Group, the property‘s owner.
The entity has awarded Aguirre Newman with the new office space design and with coordination of remodelation works. They are expected to complete by the end of the year and the move-in will take place in January. The Las Tablas headquarters will host experts in technical fields, like the risk, market analysis, transactions and services, excluding direct relation with the customers.
Sabadell aims at emptying the spaces it currently rents, such as the property situated at 90 Serrano Street, the unit at 141 Paseo de Castellana St. and the Henri Dunant building.
The entity also strives at adding value to its own properties like the NatWest headquarters on the Principe de Vergara St., where it wants to save the ground and the first floors and put the rest of the building up for sale. To give more examples, the bank possesses a unit on the Velazquez St., the one at 71 Serrano St. (the Banco Urquijo building, Sabadell‘s pride), some facilities in the district of Embajadores, on the Conde Penalver St., as well as the properties located at 135 Castellana and at 67 Serrano.
Original article: Expansión (by Sergi Saborit)
Translation: AURA REE