BPI Gestão de Ativos has completed the sale of a high street shop located at Avenida da República, 3, in Lisbon. The transaction was advised by JLL and the property, a commercial space of approximately 768 sqm, is spread over three floors and fully let to a Portuguese private bank.
Located on one of the capital’s main avenues, the shop benefits from high visibility and a large footprint. The property has been refurbished and is subject to a long-term lease.
“This transaction reflects the creation of value through dynamic management, focused on the continuous optimisation of the assets under management. The sale was completed following a property repositioning process, which identified the most suitable tenant capable of enhancing the space, location and commercial potential of the property”, noted Jorge Sousa Teixeira, CEO of BPI Gestão de Ativos.
“The Portuguese market continues to show strong interest in well-located retail assets leased to solid tenants. There is a clear appetite among investors seeking long-term returns who aim to preserve and increase their value”, said Augusto Lobo, Director of Capital Markets at JLL Portugal.
