BPI Gestão de Ativos has sold Almirante Barroso 32, a 4,500 sqm office building in Lisbon’s Saldanha district, to a buyer planning to convert the asset into residential use.
The transaction was advised by Cushman & Wakefield on behalf of the seller, a fund managed by BPI Gestão de Ativos. Financial details of the deal were not disclosed.
The property comprises seven above-ground floors and two basement levels, with 39 parking spaces. Currently configured as an office building, its central location, transport links and proximity to retail, restaurants and services make it suitable for residential repositioning.
The planned conversion is expected to target the upper-middle and premium residential segments, reflecting the continued demand for housing in central Lisbon and the growing trend of repurposing existing office stock.
According to Cushman & Wakefield, around 20% of office investment in Portugal in 2025 involved assets intended for a change of use, with demand for these opportunities continuing into 2026.
The sale adds to a growing number of office-to-residential repositioning projects in Lisbon, as investors seek to unlock value from existing urban assets while responding to the city’s housing shortage.
