It’s quite astonishing to think seven of the most historic buildings, quite literally in the heart of Madrid, stood abandoned for more than a decade.

Located a few steps from Kilometre Zero, the physical centre of Spain, the buildings in question are an eclectic collection that date between 1887 and 1975 and form part of a triangular city block enclosed by Alcala and Sevilla streets and the Carrera de San Jeronimo.

Today, they are part of the ambitious Centro Canalejas project, a mammoth eight-year undertaking that has restored and unified the seven buildings to create an extraordinary lifestyle complex that houses La Galeria de Canalejas, a luxury shopping centre, as well as Spain’s first Four Seasons hotel, which also includes 22 private residences.

The hotel itself occupies the most iconic of the buildings, a grand 19th-century pile that was the former headquarters for La Equitativa insurance company. Designed by Spanish architect Jose Grases Riera, the property’s unique flatiron shape slots like a slice of pie right into the intersection of Alcala and Sevilla streets and features a landmark rotunda, which houses a clock and bell, crowned by a copper cupola.

The renovation of this building, like the six others, involved hollowing out the interiors, rehabilitating the monumental facade and then painstakingly cataloguing, disassembling, restoring, and reinstating around 16,000 original elements.

This includes the impressive green marble pillars and the stained-glass ceiling in the hotel’s two-storey lobby lounge. Once the main bank’s hall, the lively atmosphere of this reimagined space, with its lovely sense of arrival, immediately enveloped me, evoking a sort of nostalgia for grand hotel lobbies of old. Here too, in striking contrast to the classical decorative details, is a mega two-and-a-half metre sculpture called ‘Along The Way’, by American artist, KAWS.

Art is in fact a huge part of the Four Seasons Madrid, its 1,500 pieces – many the result of a competition held among the students of the fine arts universities in Madrid, Malaga and Seville – linking the hotel’s past and present.

This is evident throughout, including in my gorgeous one-bedroom suite, at the very end of a long passage on the second floor. Upon entering, the automatic blinds raised theatrically to reveal a splendid two-level space with soaring double-height ceilings and classic interiors, by San Francisco-based firm BAMO, which take their cues from the muted tones of Spain’s dry landscape and the natural pigments of Goya paintings. The result is an elegant and understated palette of olive green and saffron tones, embellished with gold accents and contemporary paintings by Spanish artist Eduardo Martiin del Pozo.

Almost like a private apartment, the suite’s open-plan layout means the sleeping area overlooks a spacious living room below, where a round marble dining table was laden with a selection of welcome snacks and drinks including a chilled bottle of cava, a tiered stand filled with jamon and cheeses, as well as a chocolate elephant. I was told this was in reference to the elephant heads on the building’s facade, a fun detail from the original architect Jose Grases who had a particular interest in theatres, especially Paris’ Eden-Theater, which features the same animal heads.

On the level above, the dreamy bed, with its gold-framed dimpled-leather headboard, is topped with the signature – and extremely comfortable – Four Seasons mattress, which beckoned me from the moment I stepped through the door.

But first, a visit to the spa. Spread over four levels, the sprawling 1,450 square-metre space is crowned with a skylight-covered indoor pool and an outdoor terrace, which is a lovely spot to take in the views of Madrid’s rooftops with a cup of coffee, while soaking up the morning sun.

As my visit happened to be on a blustery Autumn afternoon, I was ushered straight to one of the eight cosy treatment rooms, for an indulgent massage called Blissful Serenity, which delivered exactly what it says on the tin, leaving me feeling ‘deeply calm, centred and with tranquil energy in both body and mind’.

The perfect precursor to a delightful evening ahead, which started with preprandial drinks in the lobby lounge with a friend. Here, in anticipation of Isa, a cocktail bar designed by New York-based design firm AvroKO that was yet to open when I visited the hotel, Miguel, the F&B director, served us deliciously potent Negronis with a twist, using manzanilla vermouth.

This was followed by dinner at Dani. Perched on the top floor of the hotel, this casually elegant brasserie is the latest offering from Spanish celebrity chef Dani Garcia.

The terrace during the summer months is a lively spot with gorgeous views over Madrid, while the interiors are the work of Martin Brudnizki, who channelled the restaurant’s easy-going vibes to create a dynamic and relaxed plant-filled space anchored by a central bar. Details like parquet flooring and antique mirrors, which nod to traditional brasseries, are layered with tactile fabrics such as olive-coloured cloth-covered walls, marble, leather, mohair, and velvet in vibrant reds and warm yellows that take their cues from Madrid’s vivid sunsets.

On the menu is a mix of traditional Andalusian dishes, Garcia’s signature creations – like the nitro tomato and green gazpacho – alongside brasserie favourites, from the caesar salad with jamon iberico to the highly recommended Dani Rossini Burger, served with foie gras and parmesan. I love a burger, but as I do not eat foie gras, I nudged my friend to order this must-have dish, while I went with the ribeye, which was served perfectly pink, with a side salad and a glass of red wine.

Dani’s separate entrance away from the hotel has been a smart move that has enticed the local crowd, resulting in a buzzy destination restaurant that further boosts the Four Seasons Madrid’s appeal – and the entire Centro Canalejas project – as a new hotspot in a city that is due its moment in the sun.