Prowinko has sold the building at 53 Garrett Street, in Lisbon’s Chiado district, to a private investor. CBRE advised on the deal. The price and the buyer’s identity have not been disclosed.
The property has around 2,000 sqm and is fully let to Wells, which opened its flagship store there in 2024.
The lease is long-term, providing the investor with a stable income stream on one of Portugal’s most established retail streets.
“This transaction highlights the strong appeal that the high street retail segment continues to hold for private and institutional capital in prime locations such as Chiado. The combination of a strategically located asset, a market-leading tenant and a long-term lease ensures maximum stability for the investment”, noted Igor Borrego, Head of Capital Markets at CBRE Portugal.
