POLICIA Nacional is continuing its evacuation of the Torrespacio skyscraper in Madrid following a bomb threat.

The tower, which houses the Australian, UK and Canadian embassies, is one of the four towers of the Paseo de la Castellana.

Firefighters, National and Municipal Police and paramedics are on the scene as workers are being rushed out.

The alarm was first raised at 12.25pm and reports allege the threat was made specifically against the Australian embassy.

Torrespacio is the fourth tallest skyscraper in Spain and the twenty-fourth in Europe.

Its height amounts to 235 meters, consisting of 57 floors.

It also has six levels of parking and more than 1,270 parking spaces.

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