Portugal

CGD close to finalising purchase of WellBe building for €160M

CGD close to finalising purchase of WellBe building for €160M

Caixa Geral de Depósitos (CGD) is close to finalising the purchase of the WellBe building in Lisbon's Parque das Nações for between 160 and 170 million euros. The promissory purchase and sale agreement is expected to be signed in November, reports Eco.

The building will be the new headquarters of the bank led by Paulo Macedo. It should be remembered that CGD will be moving out of the building on Avenida João XXI in three to four years' time. The government will occupy the building, which was built from scratch for the public bank.

According to information obtained by Eco, talks are already underway to adapt the WellBe building to the bank's functions. The new Atenor and Besix Red office project has 27,635 square metres of office space and around 1,240 square metres of retail space.

Construction of the office building began in January and it is expected to open in 2025. In September, CBRE announced that it had taken over the management of WellBe.

When questioned by the same media, Caixa Geral de Depósitos said that "it has not made a definitive decision on the future location for the new headquarters" and that "the decision, when it exists, will be shared with stakeholders".

It should also be noted that the WellBe building had aroused the interest of the Bank of Portugal, which is looking for a solution to house its workers in Rua Castilho and Avenida Almirante Reis.

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