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Barings fund trusts in its new ELCANO office project to Cushman & Wakefield


The building located at José Echegaray street number 2 in Las Rozas, the consolidated business center of western Madrid, it sits on an independent plot with a fenced perimeter and security access.

The different plants between 782 sqm to 3,865 sqm  will offer a maximum occupancy of up to one person per 7 sqm (ratio 1: 7).
With a singular architectural configuration characterized by spaciousness, openness, light and human scale, it has various common and private terraces and interior patios. The building also has some 14,000 sqm of outdoor area, which will maintain its paddle tennis courts and be rehabilitated to turn the garden into a sports and entertainment area for all employees who work in the building.

“What most attracted us to this investment opportunity was the ability to acquire a property with an almost unique representativeness, with a design that, 30 years after its inauguration, continues to be at the forefront, to endow it with all the advances that now we have and thus turn it into a leading building in sustainability and operational efficiency, with open spaces, services, gardens and sports areas, where employees can carry out their activities in a healthy way, ”says Adolfo Favieres, CEO of Barings in Spain.

It is a building that comes onto the market offering quality square meters and, in an area, characterized by a shortage of supply. The rehabilitation that the building is going to undergo, together with the interior patio and the landscaped areas, make 'Elcano' an ideal option for companies that want to have different collaborative spaces, some outdoors, for their employees,” says Alfredo Collar. Director of Business Space Office Agency Madrid

ELCANO, Madrid's architectural heritage, is renewed

The building has been named ELCANO for the curious coincidence of its resemblance to a boat; for being 2019 the fifth centenary of the first voyage around the world, carried out by the great Spanish sailor Juan Sebastián Elcano; and on the other hand, the architect who conceived the building to be the headquarters of the insurer National Nederlanden, in the early 90s, is Julio Cano Lasso, recognized as the architect of rationality and sobriety and a gold medal for Spanish architecture and died in 1996, three years after opening the building.

The renovation and updating works, which Enrique Álvarez-Sala projects, respect the harmonious spirit of the building. Under the project management of Barings, the building will be equipped with new air conditioning and lighting systems with which to reach ambitious levels of sustainability; accessibility, facilities and evacuation measures will be strengthened to provide greater operational efficiency. The configuration, design and materials of the interior common areas will be completely renovated. The large green spaces and the collaborative and informal meeting areas take on greater relevance in the building, in addition to updating common service areas such as the auditorium and the canteen.

Among other details, the building will be equipped with outdoor sports areas and the ability to install electric chargers in all of its parking spaces.



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