Henderson Park acquires Lagoas Park in Lisbon for €421M

Henderson Park acquires Lagoas Park in Lisbon for €421M

Lagoas Park View - Credits: Henderson Park

Lagoas Park is a 150.000 sqm business park composed by 13 standalone buildings. It is centrally located in the heart of Portugal’s technology corridor Oeiras, with access to Lisbon’s city centre, and has over 5,000 on-site, underground parking spaces. This business park also offers green spaces, a four-star hotel, a health club, childcare facilities and 12 restaurants.

Lagoas Park is established as the destination of choice for the regional headquarters of international businesses operating in healthcare and technology areas. This transaction offers «an attractive current yield and long-term rental growth potential on the back of robust demand for space among current and prospective occupiers», can be read in a release. According to market sources close to the process, the yield of this deal is 7%.

«The offices’ strong income profile is further demonstrated by the rental performance through the current crisis and interest from tenants in taking up new space», informs the same document, that also reveals that among the occupiers of this business park are Google, Samsung, BMW, SAP, Johnson&Johnson, Sanofi, Oracle, Cisco, Volvo, Nike and BP.

Nick Weber, Founding Partner of Henderson Park, commented: «Lagoas Park is undoubtedly one of the leading business parks in Portugal, standing out because of its incredible scale, quality and impressive tenant roster of high-profile companies. Lisbon has a growing position as a European business centre, attracting marquee international companies, across growth industries like technology and healthcare, and offering a high quality of life for employees. Lagoas Park’s performance through the recent crisis is a testament to the fundamental appeal of both the location and the high-specification of the asset itself. We have a strong conviction that the right assets will continue to outperform and are confident in the future prospects of Lagoas Park and its ability to deliver attractive income growth and total return for our investors».

Last Update 15-9-20 at 6:00 pm

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