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WPP Co-Locates Madrid Agencies
Marcoms giant WPP is planning to bring together its agencies in eleven locations in Madrid, Spain, into the former Telefónica headquarters in the Chamberí neighbourhood of the city. The move brings more than 40 companies and around 2,500 people under one roof.
 The group has agreed a long-term lease, beginning in the summer of 2018. Lead architect BDG architecture+design, itself a WPP company, will oversee the project to strip the 36,000 square metre building back to its shell and fully refurbish it.
WPP recently announced a similar move in Shanghai, signing a lease for a new building where it will co-locate 26 companies and 3,000 people.
CEO Sir Martin Sorrell says of the decision: 'This investment is a vote of confidence in our businesses in Spain, which is one of our most important markets. Like our recently announced Shanghai Campus, it will provide a superb environment for our people and encourage greater collaboration - or horizontality - between our operating companies for the benefit of clients'.
Web site: www.wpp.com .
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