Avenue sold store 266 Liberdade for 13.9 million euro

Avenue sold store 266 Liberdade for 13.9 million euro

The store at building 266 Liberdade, from Avenue, has a new owner, IMOFID, managed by Fidelidade Sociedade Gestora de Organismos de Investimento Coletivo (Fidelidade SGOIC). The deal was closed for around 13.9 million euro.

Located at Avenida da Liberdade, next to Marquês de Pombal, in Lisbon. The store has a total 1.300 sqm and is located within the iconic Diário de Notícias’ former building which was converted for housing and retail by Avenue.

Aniceto Viegas, Avenue’s CEO, stated in a release: «we are very happy that such a charismatic store was acquired by an investor who is such a reference in our market». He further added that «this transaction was concluded in record time, as a result of Fidelidade’s team’s commitment and professionalism».

Manuel Calvão administrator at Fidelidade SGOIC, commented that «the acquisition of this high-street store, located in Portugal’s most prestigious avenue which has unique historic and artistic elements, in particular, several panels from Almada Negreiros, integrates Fundo Aberto IMOFID’s strategy to continue developing a high-quality real estate portfolio. The transaction was quick, because of Avenue’s precision and competence and the strong collaboration between the two teams».

Carlos Vieira Neto, Associate at Cushman & Wakefield’s investment department, which represented Avenue in this deal, considered «a great honour to be involved in such a relevant transaction of an asset with such a history and within a segment – retail – which, although undergoing a slow-down caused by external factors, continues to attract capital. We are confident that retail, as a whole, will retake the leadership and dynamism it had in the recent past and we are sure that 266 Liberdade will be the preferred destination for any renowned tenant».

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