One of the most emblematic buildings of the capital of the country is located in the Plaza de España in Madrid, whose destination has given much to talk about in recent years.
It is the Edificio España, an imposing 1953 skyscraper located next to the famous Gran Vía that for decades held the title of tallest building in the city until the arrival of the large buildings on the Paseo de la Castellana.
In 2006, Edificio España was abandoned after having been a luxury hotel, shopping center and office space in its heyday. From then on, the property passed from hands, fell into decline and suffered damage that led the locals to wonder about the fate of one of Madrid's icons.
Nobody decided to do anything with him until two real estate groups entered the scene that set out to resuscitate him with different results. The rest of the story, below.
What happened to the España Building since its closure?
In 2012, Santander bank communicated the sale of the Spain building to the Chinese group Dalian Wanda for 265 million euros, which He wanted to carry out a huge remodeling project to transform the España Building into a large shopping center, a hotel and several luxury apartments.
For this purpose, the degree of historical-artistic protection of the property was lowered from grade 2 to 3, so that the interior could be demolished while preserving the façade. However, Wanda's plans went further as they sought to completely demolish him in order to carry out his project, but they met with strong opposition from the Madrid institutions.
With Wanda and her aggressive architectural reforms out of the game, the Chinese group put the property up for sale and in 2016 a buyer emerged: the Spanish real estate group Baraka.
The new owner will project a rehabilitation work that will last until 2019 but will respect the facades and the architectural and decorative elements that characterize the mythical building. Besides, it will also make it a shopping mall and hotel, which seems to open a point of hope to the situation in which the Spain Building was found.
What will the future Edificio España look like?
The basement, the ground floor and three upper floors will be reserved for the commercial area that will have around 15.000 square meters of surface. The rest of the España Building will be used to house a five-star hotel, which will have 600 rooms.
It is still too early to confirm it but rumors suggest that the Hard Rock Café chain, owned by the Seminole Indians, could be in charge of managing the future hotel and turning it into a place in the purest Las Vegas style. Apparently, they had been seeking to settle in Madrid for years but their attempts were unsuccessful. Now the Edificio España meets all the requirements for your restoration and entertainment project.
What is the location of the España Building?
It is located in one of the privileged enclaves of the center of Madrid, next to the popular Gran Vía (full of theaters, cinemas and restaurants) and Princesa Street (full of shops) and in front of the Plaza de España, a monumental and landscaped area to which every weekend multitudes of Madrilenians come to stroll and enjoy the good weather. In the center of the square we find a large fountain dedicated to Miguel de Cervantes and his work Don Quijote de la Mancha, with a sculptural group that represents its protagonists: Alonso Quijano and Sancho Panza.
It is also very close to the building of the Real Compañía Asturiana de Minas (from the late 60th century and current headquarters of one of the councils of the Community of Madrid) to the Casa Gallardo (an ornate residential building that powerfully draws attention) and to the Madrid Tower (the other skyscraper in the Plaza de España that in the XNUMXs became the tallest in Europe.)
Something is changing in the Plaza de España
In the coming years, not only will the Edificio España undergo a rehabilitation process, but the Madrid City Council has proposed to renew the current state in which the Plaza de España is located. Through the Madrid Decide website, citizens can choose the option they think is most convenient for the future of the space and what they want to preserve from the environment (the Cervantes monument, the wooded areas and the pedestrianization of the Bailén street flyover are some of the most appreciated ideas.)
Among the most repeated suggestions by citizens are those that foresee that the reforms extend to the surroundings of the Temple of Debod, Plaza de Oriente and even Madrid Río. In this way, the square could compose a "green network" connecting Casa de Campo and Parque del Oeste with the city center.