Diagonal Vertical will be the new name of the building known as Torre Banco Sabadell, which will maintain its unique glass facade. Its glazed exterior, which will be covered with photovoltaic glass and vegetation with native species, will house a renovated interior to offer class A office spaces. The renovation, which involves an investment of 20 million euros, thus aims to maintain the essence of the iconic building, while converting it into workspaces adapted to new market needs.
The unique tower, located at the intersection of Avenida Diagonal and Balmes street, is renovating its interior and facilities with the real estate group Hines, which bought it from Banco Sabadell in 2021. The rehabilitation is expected to be completed in the third quarter of this year.
Designed by Santiago Balcells and Francesc Mitjans and inaugurated in February 1969, the building is being remodeled by the architecture firm Batlle i Roig, along with the interior design firm Buckley Gray Yeoman. After having been used exclusively as the headquarters of Banco Atlántico, first, and Banco Sabadell, later, it will now add office space in an area with investment opportunities in the heart of Barcelona's financial district.
Banco Sabadell will continue to carry out part of its activity in the building as a tenantThe reform is transforming the building 55 years after its inauguration, when it represented a change for the skyline of the city as one of its tallest buildings. It is this verticality that is to be highlighted with the new name of the emblematic building, which has 24 floors. With its 83 meters in height, it totals 11,823 square meters above ground, which will be mainly allocated to this office use. This area adds to what will be made available to the market throughout 2024, which will exceed 115,000 square meters in Barcelona.
Through this reform, "Diagonal Vertical takes the past of a historic building and turns it into the future of new companies looking to locate in the heart of Barcelona's financial district," according to Hines' head in Spain, Vanessa Gelado. Hines acquired the property through the Hines European Core Fund (HECF) in December 2021, when it bought it from Banco Sabadell. The banking entity will continue to carry out part of its activity in the building as a tenant, on four of the tower's 24 floors, including a new private banking hub on the ground floor.
The tower's renovation is committed to innovation and sustainability, "with the ambition of becoming a new ecosystem for companies that start operating from the building." With this objective, it will include state-of-the-art services, such as its own app for users, meeting rooms, a terrace on the third floor, and a rooftop that will offer a 360-degree view of the city. In addition, it will have elements and facilities to improve energy efficiency and reduce its carbon footprint, such as the vegetation that will soon begin to populate its emblematic glass facade.
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