Auchan sold A Napolitana complex to international investors’ consortium

Auchan sold A Napolitana complex to international investors’ consortium

A new international school will be installed here, for a global investment of more than 50 million euro. It will be the first school from Artemis Education Group to be installed in Lisbon and it will be dedicated to the development of new global school projects. The new tenant signed a long-term lease with the new owners and it will establish itself in Portugal through its relation with CGC.

The set of 4 buildings which composed the former factory, built in 1908 and designed by French Vieillard & Touzet, within an area of 12.000 sqm will be maintained as will the original façades. The interior will be fully renewed and modernised so as to be adapted to the needs of a teaching establishment. A new adjacent building will also be constructed.

This transaction was advised by American consultant Athena Advisors, on behalf of the buyers for whom this was the first acquisition in Portugal. David Moura-George, the consultant’s director in Portugal, commented in a release that «we are very happy with this deal. Apart from having achieved the first investment in Portugal of important global real estate companies, this operation also brought a referential tenant to an iconic location, which will allow, not only its rehabilitation, but also to increase this area’s value. An international school will bring new life to an area that is being revitalised».

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