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Banco de España to transform Quinta de Torre Arias and open its gardens to Madrid
Quinta de Torre Arias begins a new chapter after its historic buildings are granted to Banco de España. The institution will be responsible for restoring and managing the properties for the next 75 years, while the gardens will remain open to the public for walking and enjoyment by local residents.
The agreement will make it possible to restore a heritage complex that has had many of its buildings unused for years. The work will focus on restoring the buildings, improving their conservation, and adapting the spaces for new cultural, educational, and professional activities.
The project includes the creation of a centre linked to research and the financial sector. The aim is to give the buildings a stable use without changing the public character of the green area, which is one of the main places for relaxation in San Blas-Canillejas.
The gardens are not part of the exclusive use granted to Banco de España and will continue to operate as usual. Visitors will still be able to walk along its paths, wooded areas, and historic spaces, as the new management of the buildings will not restrict general access to the grounds.
The Quinta is located at 551 Calle Alcalá, near the Torre Arias metro station. The site features centuries-old trees, former farmland, and various buildings that reflect the evolution of Madrid's country estates.
Its origins date back to the late XVI century and, over the years, it passed through different families and names. In 1913 it adopted its current name and in 2022 it was declared a Bien de Interés Cultural, a protection status that requires the conservation of both its architectural features and historic gardens.
The restoration could turn the site into a new hub of cultural activity for eastern Madrid. In addition to reopening currently closed buildings, the project aims to attract visitors and generate new uses in an area far from the more typical heritage circuits of the city centre.
The change will especially affect San Blas-Canillejas, where residents have long called for the full restoration of the estate. The opening of the new spaces will still depend on the restoration work, but the gardens will continue to offer the same peaceful refuge alongside Calle Alcalá.