Footfall On Madrid’s High Streets Rose By 22% In 2016

17 January 2017 – Inmodiario

The prime high streets of Madrid considerably increased their pedestrian footfall during 2016, taking over the leadership position previously occupied by Barcelona in 2015.

According to the preliminary data that TC Group Solutions has extracted from the “Big Data Report about Consumer Behaviour in 2016”, the city of Madrid saw a 22.24% increase in its pedestrian traffic between 2015 ad 2016, to reach a global average of 5,981 pedestrians on its prime streets each day between the hours of 10h and 22.30h.

The increase in the city of Barcelona was less significant (1.38%), taking its global average to 5,703 pedestrians on its streets each day, whereby relegating it to second place in the absolute ranking, ceding the leadership position to Madrid.

The busiest days on the high streets in 2016 were 4 January in Madrid and 23 April (Saint Jordi) in Barcelona, with a daily average of 8,047 and 8,331 pedestrians, respectively.

If we analyse footfall by month, the figures show that the busiest months in 2016 were January in Madrid (6,408 pedestrians/day), September in Barcelona (5,951 pedestrians/day) and December for other Spanish cities with more than 200,000 inhabitants, where footfall exceeded 4,200 pedestrians/day.

These are the first conclusions to be extracted from the “Big Data Report about Consumer Behaviour in 2016”, compiled by TC Group Solutions and prepared using aggregate Big Data calculations, which are in turn based on thousands of data points, obtained daily from the more than 6,000 sensors that the company has installed in more than 25 countries around the world.

The full report contains pedestrian footfall data for the main shopping streets in Spain, which allows us to prepare a ranking of the high streets, as well as to calculate the price per potential client of each one, on the basis of rental prices. The report also dedicates a couple of chapters to consumer behaviour, measured through appeal ratios (entry into stores) and conversion ratios (sales) to calculate the profitability of retail businesses on specific high streets.

Original story: Inmodiario

Translation: Carmel Drake

Infinorsa Renovates Torre Europa To Attract New Tenants

8 August 2016 – Expansión

Torre Europa is completing the final details (of its renovation process) ahead of the debut of its new image from September. The iconic building – one of the first multiple ownership office buildings in Madrid, constructed in 1985 – will boast a new external façade, as well as a refurbished entrance lobby, floors and common areas, in order to appeal to new tenants.

Infinorsa, the majority owner of the property, has launched an ambitious transformation project, in which it is investing €20 million, with the aim of updating and improving the inside and outside of Torre Europa, equipping it with more light and technological innovations, and whereby allowing it to charge 20% higher average rents. Until now, the rent for Torre Europa has fallen in the middle band for buildings in Azca. With the changes, the rental charge could exceed €27.5/sqm/month.


The building, designed by the architect Miguel Oriol e Ybarra, is located in Madrid’s financial district of Azca, just a stone’s throw away from the Santiago Bernabéu stadium and the Palacio de Congreso. The property has 32 floors and is 121 metres tall.

Following the departure of the building’s main tenant, KPMG, a few months ago, Torre Europa, with a leasable surface area of 43,000 sqm, currently has around 20,000 sqm of space available for rent. “High quality spaces are currently in demand. We must respond to the new paradigm, with brighter and technologically prepared spaces. This transformation seeks to adapt the property to the needs of the day, whilst at the same time retaining its essence and enhancing its unique qualities”, explained Fernando Ferrero, Director of Operations at Infinorsa.

The renovation process has been complicated by the fact that it has been performed at the same time as the current tenants are occupying approximately half of the building. For this reason, the construction work has been carried out during the night: “This has made the process more expensive, but, in return, we have caused less disruption to the tenants”.

Inside and outside

The work inside the building has involved the renovation of the entrance hall, the common areas and the floors, which is expected to be completed in September. The transformation of the hall will give rise to a much airier entrance, with higher ceilings and a brighter space overall. In terms of the floors, the glass of the windows will go down to the floors, in order to benefit from the natural light and the height of 260 cm per floor.

In terms of the changes outside, the plan involves covering the pillars with steel to preserve the structure, at the same time as updating the image. Similarly, an integrated glass canopy will be added to the external structure. This work is expected to be finalised during the first quarter of 2017.

In terms of technology and other new features, the building will have LED lighting and sensor systems to control both the light and ambient temperature. In addition, Torre Europa will have the technological tools to benefit from big data and geolocation services. Sources at Infinorsa explain that the project fits with the push that the Administrations are giving the capital’s financial district.

Original story: Expansión (by Rebeca Arroyo)

Translation: Carmel Drake