Henderson Park lets Los Cubos in Madrid after refurbishment
Sustainable offices continue to be in demand across Europe. The latest proof was provided yesterday by Henderson Park’s announcement that it has let half of Los Cubos office building in Madrid, which has undergone a brown to green refurbishment and achieved a LEED Gold certification.
Henderson Park, the London-based private equity real estate firm, has let four floors of Los Cubos to Kyndryl, the world’s largest provider of IT infrastructure services with thousands of business customers in more than 60 countries. Kyndryl has agreed a long term lease and will relocate its Spanish headquarters to Los Cubos.
“Los Cubos is a unique and instantly recognisable building on the Madrid skyline, refurbished into a Grade A office asset that meets the requirements of modern tenants who place increased importance on the sustainability, wellbeing and technological performance of their workspace”, said Christophe Kuhbier, Managing Director, Henderson Park. “This successful development is another example of Henderson Park’s strong retrofitting credentials, with comprehensive sustainability-led refurbishments a central theme to our broader value-add strategy”.
Kyndryl will occupy the property’s first four floors, including a 1,000 sqm private terrace. Kyndryl’s employees will also benefit from a 1,000 sqm private terrace and will have access to the building’s numerous communal spaces, which include additional outside terraces, 3,500 sqm of green spaces, a restaurant, a padel tennis court, gym and changing rooms.
Originally built between 1976 and 1981, Los Cubos is one of the best known and most recognisable office buildings in Madrid thanks to its iconic Brutalist architecture. Since acquisition by Henderson Park, and in line with the firm’s value-add strategy, it has undergone a comprehensive refurbishment to modernise the façade and interiors and overhaul the asset’s technology, wellbeing and sustainability credentials, as shown by the LEED GOLD certification.
Los Cubos comprises 19,500 sqm of space over nine storeys with 4,000 sqm of external terraces. The building also benefits from excellent transport connectivity, located within ten minutes’ walk of two metro stations and positioned at the junction of the M-30 and the A-2 highways.
Kyndryl is the first tenant at the new and improved Los Cubos, with active discussions underway for the remaining available space across the property’s five upper office floors, which includes three private terraces offering outstanding views over the city.
“There remains an acute undersupply of high-quality office space in Madrid and Kyndryl’s decision to relocate its Spanish headquarters to Los Cubos is testament to the asset’s exceptional standard”, said Kuhbier. “It also demonstrates the continued desire amongst leading companies to occupy best-in-class, attractive office space that encourages cooperation and collaboration. We look forward to welcoming other tenants”.