Business · Companies · 2 hrs ago
Crédit Agricole plans to move its Spanish headquarters in Madrid
Crédit Agricole plans to move its Spanish headquarters to a building at 6 Alfonso XI Street in central Madrid.
The bank is finalising a lease with Merlin, the building’s owner, for the property near the Puerta de Alcalá.
The building has 11,187 square metres, compared with about 9,000 square metres at the bank’s current offices on Paseo de la Castellana.
The extra space will help bring key business teams together as the current headquarters has become too small for its roughly 300 staff.
Merlin has renovated the former Instituto de Estudios Bursátiles headquarters to prepare it for new tenants.
The bank aims to move after summer 2027, once work is complete.
At the same time, Crédit Agricole is reviewing offers for its current building, which it put up for sale with an initial valuation of about €100 million.
Crédit Agricole plans to move its Spanish headquarters to a building at 6 Alfonso XI street in Madrid.
The bank is finalising a lease agreement with property owner Merlin, according to market sources cited by Expansión.
The move is intended to give the bank more space and bring key business activities in Spain together.
The new building has 11,187 square metres, compared with about 9,000 square metres at the current headquarters.
The bank intends to move after summer 2027, once renovation work is complete.
- Who
- Crédit Agricole.
- What
- It plans to move its Spanish headquarters to a larger building and is finalising a lease agreement with Merlin.
- When
- The bank intends to move after summer 2027, once work is complete.
- Where
- 6 Alfonso XI street, in Madrid’s Jerónimos neighbourhood.
- Why
- Its current headquarters is becoming too small, and the bank wants to bring key business activities in Spain together.
This story does not have two clearly opposing sides.
The Instituto de Estudios Bursátiles moved from the Alfonso XI building to a new headquarters in Aravaca.
Crédit Agricole appointed CBRE and Savills to sell its current building and find new offices.
Crédit Agricole intends to move into the Alfonso XI building after renovation work is finished.
- Planned address
- 6 Alfonso XI street, Madrid
- New building size
- 11,187 square metres
- Current headquarters size
- About 9,000 square metres
- Planned move
- After summer 2027
- Current building sale
- Crédit Agricole is reviewing several proposals