Azora has started the commercialisation of ML28 Madrid Urban Hub, an office campus in the centre of Madrid, located near the Cuatro Torres and Madrid Nuevo Norte, areas of great activity in the capital. The project, which will be marketed by CBRE, is expected to be completed by mid-2025.
This urban campus, designed to adapt to new collaborative and flexible working models, is the only one of its kind in the centre of Madrid and is aimed at top-tier companies. The focus of the project is on people and it is located in a unique environment surrounded by more than 6,000 square metres of green spaces. It will also be LEED Platinum certified.
The design of the office project is the work of Ruiz Barbarín Arquitectos, which has adapted the original 1980s signature architecture by Alejandro de La Sota to contemporary needs. The spaces are designed to maximise natural light and encourage interaction and collaboration.
The complex will exceed 16,500 square metres, including a main building of up to four floors with almost 16,000 square metres and an additional building of 619 square metres with two floors and independent use. The architecture of the project allows it to be adapted to the specific needs of the tenants and has office floors of up to 4,500 square metres, the largest within the M-30 in Madrid. The centre will have capacity for 2,800 people.
Located in a strategic area, the ML28 Madrid Urban Hub is in a location that is expected to become a major attraction for investors and future occupiers, with nearby developments such as Madrid Nuevo Norte extending the Castellana axis. The location is also strategic for activities related to the rapidly expanding Life Sciences, education and technology sectors.
"Projects such as ML28 Madrid Urban Hub are set to revolutionise the office market in the capital, at a time when companies are finding in their workspaces an ally to attract and retain talent", says Jose Mittelbrum, Senior Director A&T Offices CBRE Spain.
Azora launched in the first half of 2023 a European multi-strategy vehicle with an equity of €270 million and an investment capacity of €500 million. The fund has already completed 75% of its investment and its portfolio of assets includes the office complex at Monforte de Lemos 28, the Hotel Chamartín, a land development in Valgrande (Alcobendas), and a data centre in Madrid. This multi-strategy vehicle was created with the aim of investing in the real estate sector in southern Europe in a flexible manner and to take advantage of the different opportunities that are being generated in various segments.
