Two years after Novartis sold its historic corporate headquarters on Gran Via, the Monumento building is entering the final phase of its renovation, with the forecast of having it ready in May. The investment group BC Partners and the German real estate company Freo Group have launched this final phase after obtaining the building permit for the rehabilitation of the building, located next to La Monumental.
Despite the sale of the property, Novartis continues to operate in the building as a tenant of five of its floors. In total, the property has nine floors and four underground levels totaling 13,400 square meters of leasable space, which can accommodate 1,600 workstations. While the renovation is being completed —whose budget the developers do not detail—, the three upper floors that remain vacant are being marketed.
For its part, the ground floor will house a 350-square-meter lobby designed to foster networking and an auditorium for corporate events. At the other end, the building will be crowned by a 500-square-meter terrace with views of the Sagrada Família.
In addition, the property will be equipped with advanced lighting systems with natural light sensors, technical floors that improve acoustic performance, and state-of-the-art ventilation and air conditioning systems. The spaces already occupied by Novartis were renovated during 2024, and its employees will coexist with the remaining works to complete the renovation, which focus mainly on the common areas, the facade, and the roof of the building.
The building, located at 764 Gran Via and near the renovated Glòries, will be added to Barcelona's office stock during a 2025 that has started with good prospects. The office market closed a 2024 of recovery after a 2023 marked by the sector's sluggishness.
In this sense, last year real estate investment in the office sector reached 447 million euros in Barcelona, and contracting increased by 20% compared to the previous year, in a positive trend that is expected to continue during 2025.