ING has signed a long-term lease with Inbest GPF Socimi for over 1,800 sqm at Castellana 2, a landmark building located in Madrid’s Plaza de Colón, which will become the bank’s largest office in Spain.
Currently undergoing a full refurbishment, the asset will open in summer 2026 and offer three floors and a terrace designed with recyclable materials and carbon-reduction solutions. The new space will provide modular, flexible areas to serve retail, corporate, SME, investment and private banking clients, alongside dedicated zones for events and special activities.
CBRE and Addleshaw Goddard advised Inbest GPF Socimi on the transaction.
The deal comes at a time of renewed momentum in Madrid’s office market, where take-up reached nearly 151,000 sq m in the second quarter – the strongest quarterly result since 2019. Prime availability along Paseo de la Castellana remains tight, with rising rents pushing part of occupier demand towards decentralised areas, which accounted for 39% of activity, according to BNP Paribas Real Estate.
