The building has 9 floors above the ground and 1 underground floor with 30 parking spots for a total 10.248 sqm. It also has a scenic terrace on the top floor.
José Luís Pinto Basto, The Edge Group’s CEO, commented in a release that «the building was originally conceived in the early 60s as an industrial asset. Acquired by The Edge Group in 2016, it underwent a deep refurbished and was converted into a high-quality office building». He further added that «by preserving its original industrial look and feel while converting it into a modern office building, the building retained a unique identity and excellent technical features to host the market’s most demanding tenants».
«We are very happy with this first acquisition in Lisbon. We are convinced international companies will always seek the vibrant city centres of the main European cities. This spectacular project with a 360° view from the top represents all occupants seek: connectivity, experience and ESG commitment in buildings with undisputable prestige. It is an excellent addition to our European Core Fund portfolio which already includes investments in Paris, London, Hamburg, Berlin and Frankfurt», stated Philippe Joland, Senior Managing Director at Tishman Speyer, who supervises the group’s activity in France and Southern Europe.
The sellers were advised in this operation by CBRE. Nuno Nunes, director of Capital Markets at CBRE, commented that «in the last few years, the riverfront has been capable of attracting different types of businesses: institutional companies (EDP and Banco Big bank), large multinational groups (WPP), renowned legal offices (VdA), startups (Fartech) and some of the main co-work operators (Leap, LACS and Second Home). With the new office pipeline for the next few years, the riverfront will continue to consolidate as a reference for a large part of the companies which seek to move or expand into Lisbon».