The multinational pharmaceutical company AstraZeneca reinforces its strategic commitment to Barcelona by moving its global research hub to the Estel Building, the former headquarters of Telefónica.
This move is in response to the need to expand its facilities to accommodate a growing team of professionals, which already has 500 members and is expected to reach 1,000 by 2025.
The projected investment for this initiative amounts to 800 million euros, consolidating Barcelona as one of AstraZeneca’s main centers of excellence and clinical innovation in Europe.
AstraZeneca’s strategic commitment to Barcelona
With the move to the Estel Building, AstraZeneca becomes the first major tenant of this emblematic building in the midst of renovation, located on Avenida Roma.
The company plans to move into the new facilities in early 2025, marking an important milestone in the building’s transformation process, driven by the Freo and Bain Capital funds, which are investing EUR 80 million in the ambitious renovation.
The resulting office complex, with an area of 51,000 square meters, is one of the most significant in Barcelona. The AstraZeneca hub will occupy approximately 10,000 square meters, doubling the current space.
Although the pharmaceutical company’s sources confirmed the move to the Estel Building, neither the number of floors nor the exact surface area to be contracted has yet been specified.
The rebirth of the Estel Building
Investors Freo and Bain acquired the Estel Building, the former Telefónica headquarters, at the end of 2021. Faced with the growing demand for workspace in the city center, they decided to abandon the idea of building luxury apartments and transform the building into a modern office complex.
Built in 1975 by the architect Francesc Mitjans, author of the Camp Nou and the Torre Banc Sabadell, the Estel Building underwent a renovation under the direction of Blanch + Conca Arquitectura (BCA).
The project seeks maximum certification in sustainability and wellbeing, incorporating terraces and an integral connection with the surrounding neighborhood.
The complex will offer an auditorium, meeting and event rooms, fitness center, entertainment and socializing areas, retail space and restaurants on the first floor. A distinctive feature will be the presence of terraces and outdoor garden areas totaling more than 8,000 square meters.
In addition, the building aims to cover 35% of its energy consumption through sustainable sources, including the installation of photovoltaic panels.
The future of the AstraZeneca Research Center
Currently, AstraZeneca’s research hub in Barcelona occupies facilities on Avenida Diagonal, known as El Dau. Launched at the end of 2022, this center, dedicated to innovation in therapeutic areas such as oncology, rare diseases, cardiovascular, renal and metabolism, respiratory and immunology, has expanded by tripling its surface area over three floors and leading to the decision to move to the Estel Building.
