Savills IM invested €23M in 2 retail spaces in Lisbon

Savills IM invested €23M in 2 retail spaces in Lisbon

The 2 units have a total combined area of 11.000 sqm and are located within the Lisboa Park, a 23.181 sqm retail park at the Alta de Lisboa area which was developed by Bogaris, the seller of these two assets. According to Europa Press, which reported the news, these spaces are currently leased to Continente and Conforama.

On this new acquisition, Savills IM general manager for Spain and Portugal Fernando Ramírez de Haro stated that he is «very satisfied» and added that «a retail investment under the market’s current situation is complex and we have been able to carry out a good operation which stands out for the quality of its tenants and the business stability in the future».

This operation takes place two years after Savills IM paid a total of 29 million euro for the Aveiro Centre through its fund Euro V fund. This time, the British management company was advised by Cuatrecasas y Arcadis, whereas the developer Bogaris was advised by Macedo Vitorino & Associados and Retail Partners Europe.

Concerning the future, Fernando Ramírez de Haro has no doubts: «we will continue identifying opportunities in the Iberian market both for Savills IM and for our clients and strategic partners».

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