Only five office buildings in Spain hold this environmental certification
- Axiare Patrimonio has achieved LEED CS Platinum certification for its office property located on Calle Don Ramón de la Cruz, 84 in Madrid, making it one of the most sustainable office buildings in Spain
Madrid, 25 July 2017.
- The Socimi has been awarded the first LEED CS Platinum certification in its portfolio, after fully refurbishing the property. The meticulously planned works lasted just 8 months and the total investment was a constrained €465 per sqm
- The Socimi aims to achieve environmental certification for more than 60% of its properties by the end of this year, and 100% by 2018
Axiare Patrimonio, the Socimi led by Luis López de Herrera-Oria, continues to work towards generating excellent returns for its shareholders. The first Socimi to become RICS accredited achieved its first LEED CS Platinum certification for an office building: the property located on Calle Ramón de la Cruz, 84 (DRC84), placing it among the top ten new or refurbished office buildings in Spain in terms of sustainability.
The LEED certification for Don Ramón de la Cruz 84 falls under the Core & Shell category, for properties that have been refurbished and which are tenant-occupied. Only five buildings in Spain fall into this sub-category.
This is the first Platinum certification in the Company’s portfolio, thereby continuing its environmental certification plan as part of its value creation strategy. The Company aims to certify more than 60% of its properties by year end and its entire portfolio by 2018.
Axiare Patrimonio began the full refurbishment works on DRC84 in 2016, with a clear focus on sustainability: architectural design, facilities, contaminated waste management and recycling of construction materials during the refurbishment and the final fit-out of the building.
The works were completed in a record timeframe of 8 months, and with a limited investment of EUR 4.35 million – or €465 per sqm – at least 40% less than other similar renovation projects in Spain with the LEED CS Platinum certification, where works on average took between three and seven years.
Axiare Patrimonio’s CEO, Luis López de Herrera-Oria, confirmed: “This achievement is a fine example of our active management strategy. Here at Axiare Patrimonio, we consider this to be a sound success story. In less than a year, with a sensible investment and careful planning, we have managed to increase the value of a prime office property in the heart of Madrid, which will generate significant returns for our shareholders”.
Stuart McDonald, Real Estate Director for Axiare Patrimonio, pointed out: “The DRC84 building with its LEED CS Platinum certification is a significant contribution towards the company’s corporate social responsibility.”
The Socimi has also made a commitment to purchase 100% green energy for this property. All of the energy consumed by DRC84 comes from renewable sources, and it is hoped that this will help to combat the greenhouse effect, whilst also creating a cleaner environment.
For the refurbishment project at DRC84, Axiare Patrimonio was assisted by the technical consultancy firm Homu Project and Aguirre Newman’s architecture and construction divisions.