Victoria Plaza Office Tower

What Victoria Plaza Office Tower does

Victoria Plaza Office Tower is a premium commercial office building located at Plaza Independencia 755-759 in Montevideo's Ciudad Vieja, Uruguay. The asset was converted from the historic Hotel Victoria Plaza (inaugurated in 1952 as Montevideo's only 5-star hotel for decades) into a Grade A office tower by investor group Nalldor Company S.A. beginning in 2015, with project execution by PCM Project & Construction Management S.A., and completed under the Victoria Plaza Office Tower brand in 2018.

The building offers two product lines: VP WORK, providing private offices with shared amenities (24/7 access, meeting rooms, lounge, security, rooftop access) for immediate occupancy by startups and independent professionals, and OFICINAS CORPORATIVAS, providing flexible open-plan corporate floors up to 750 m² for larger enterprises. Amenities include Rooftop Piso 18, an exclusive event space inaugurated in 2023 with panoramic 360° city views and original art by Alix Born, plus Patio Verde and Terraza Verde green spaces. Building infrastructure features 5 regenerative elevators, VRV inverter HVAC, double-glazed UV-filter windows, LED lighting, NFPA-compliant fire systems, and 24/7 intelligent access control across 5 access lanes. The property achieved LEED GOLD certification in Operation and Maintenance from the U.S. Green Building Council in November 2025 and operates at approximately 85% occupancy.

The revenue model is subscription-based recurring office leasing — direct-to-tenant with no intermediaries — supplemented by event-space rental on Rooftop Piso 18. Tenant segments span startups and large corporations, served through direct leasing channels including website inquiries, phone, WhatsApp, and scheduled on-site visits. The property is privately held by Nalldor Company S.A. with Ing. Diego Pereda (also director of PCM S.A.) as CEO and artist Alix Born as a board member.

Name

Victoria Plaza Office Tower

Legal name

Victoria Plaza Office Tower

Website

https://vp.com.uy

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Victoria Plaza Office Tower is a LEED GOLD-certified premium Grade A office building in Montevideo's Plaza Independencia, offering private offices (VP WORK) and corporate floors up to 750 m² to startups and large firms under a direct leasing model.

Ownership category

akta.pro rank

Product category

Commercial Office Leasing

SIC

Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Office Property Management (BPAJAGAA)

Keywords

• Commercial office leasing
• Grade A office space
• Corporate real estate
• Flexible office rentals
• Premium coworking offices

Headquarters

HQ city

Montevideo

HQ country

Uruguay

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Office Space Rental: The building generates revenue through leasing premium office space to corporate tenants. Offerings include flexible private offices (VP WORK) with shared amenities and open-plan corporate floors (up to 750 m²) adapted to each company's needs. Rental terms include common area maintenance costs factored into the overall rent.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

Core offering

Victoria Plaza Office Tower leases premium Grade A office space in central Montevideo across two formats: VP WORK, fully furnished private offices with shared building amenities for small professional teams, and OFICINAS CORPORATIVAS, custom-built corporate floors up to 750 m² tailored to larger occupiers. The tower also operates Rooftop Piso 18, an 18th-floor event venue, and provides modern building infrastructure including smart access, VRV climate control, and regenerative elevators under a LEED GOLD-certified sustainability framework.

Product overview

Victoria Plaza Office Tower is a premium commercial office building located in Montevideo, Uruguay, offering a unified portfolio of corporate real estate services. The core offerings consist of VP WORK (private offices with shared amenities ready for immediate occupation) and OFICINAS CORPORATIVAS (flexible corporate office spaces up to 750 m² with customizable layouts). The property also features exclusive amenities including the Rooftop Piso 18 event space with panoramic city views, Patio Verde on floor 2, and Terraza Verde on floor 18. The building combines historic architecture with modern infrastructure including smart access control, VRV inverter air conditioning, LED lighting, and DVH windows, serving as a Class AAA office building in Ciudad Vieja.

Differentiator

Problem solved

Functional benefit

Brands

• VP WORK: Private offices with shared amenities including 24/7 access, meeting rooms, lounge, security, and rooftop access.
• Rooftop Piso 18

Products and services

• VP WORK Fully furnished private offices with shared building amenities, designed for small professional teams and SMEs seeking a turnkey office solution in central Montevideo.
• OFICINAS CORPORATIVAS Custom-built corporate office floors up to 750 m², tailored to the layout, branding, and operational needs of larger corporate tenants and regional headquarters.
• Rooftop Piso 18 Premium rooftop event venue on the 18th floor of the tower, available for corporate events, brand activations, and private functions hosted by tenants and external clients.

Quantifiable outcome

• 85% occupancy achieved shortly after Rooftop inauguration in 2023
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

One partnership is on record.

• PCM Project & Construction Management S.A.coreImplementation/ SI/ Consulting Partner · 1 January 2015PCM S.A. initiated activities in Chile in 1995 under Ing. Diego Pereda's leadership and has extensive experience in project management and construction control in Brazil, Uruguay, and Argentina. PCM managed the Victoria Plaza Office Tower renovation and conversion project from 2015 onwards, providing project management, construction oversight, and cost optimization services.

Scale indicators3 records

Recent moves9 records

Expansion highlights3 records

Others

• CBRE Group: Global commercial real estate services and investment firm offering property management, leasing, and capital markets services. Comparable to Victoria Plaza as an adjacency rather than direct competitor: VPOT could engage CBRE (or competitors) for property management, leasing, or capital markets advisory on its single asset.
• Tishman Speyer: Global real estate owner, developer, and investor with a portfolio of trophy office towers in major markets. Comparable to Victoria Plaza as a Grade A office landlord/investor but at significantly larger scale and across geographies; relevant for valuation benchmarking and capital partner comparisons.

Direct peers

• Industrious: Premium flexible office operator offering private offices, suites, and amenities for enterprise and small-team tenants. Comparable to VP WORK as a high-end flexible-office offering with hospitality-grade design and services targeting the same professional-services tenant profile.
• Spaces (by IWG): Design-forward flexible office brand under IWG offering private offices, coworking, and meeting rooms with curated interiors. Comparable to VP WORK's premium, amenity-rich private offices with shared spaces, particularly on tenant experience and pricing tier.
• Torre Antel: Iconic telecommunications tower and office building in downtown Montevideo operated by ANTEL. Comparable as a landmark-grade office property in Centro Montevideo, offering premium corporate space adjacent to government and cultural anchors in the same city.
• World Trade Center Montevideo: Premium multi-tenant office complex in Montevideo offering Grade A space, conference facilities, and corporate services. Comparable to Victoria Plaza as a Class AAA office address for multinational tenants in Uruguay, with a similar mix of office and event venues.

Emerging players

• BE Offices: Premium flexible office provider offering private offices, coworking, and meeting rooms with hospitality-grade amenities. Comparable to VP WORK in product positioning (premium private offices with shared amenities) and target customer (small teams seeking flexibility and prestige).

Broad incumbents

• WeWork: Global flexible office and coworking operator with a broad portfolio of shared and private offices plus amenities. Comparable to Victoria Plaza's VP WORK product line as a flexible-office incumbent with established brand, even though WeWork operates multi-floor locations rather than a single asset.
• IWG (Regus): World's largest flexible workspace operator behind brands such as Regus, Spaces, and HQ. Comparable to VP WORK as a flexible-office incumbent with global scale, competing for the same small-team and enterprise-flex tenants but from a multi-location, multi-brand footprint.

Regional players

• Officium: Latin American flexible workspace operator with locations across the region offering private offices, coworking, and virtual offices. Comparable to VP WORK as a regional flexible-office player, though currently focused on other LATAM markets rather than Uruguay.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/victoriaplazaofficetower
• Facebookfacebook.com/victoriaplazaofficetower
• LinkedInlinkedin.com/company/victoria-plaza-office-tower
• Instagraminstagram.com/victoriaplazaofficetower/?hl=es

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Victoria Plaza Office Tower