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industrial Market News: Spanish Real Estate Intelligence

Portuguese Government Plans to Sell Almada Nascente for €2MM
6 March 2019 The Portuguese state is considering plans to sell the Cidade da Água - Almada Nascente, Margueira for two million euros. The project, which is managed by Baía do Tejo, a state-owned firm, has attracted the interest of a number of foreign investors even has doubts have surfaced regarding the sales prices since the project will still face elevated costs with infrastructure and development. The Cidade da Água - Almada Nascente, along with Quimiparque, in Barreiro, and Siderurgia, in Seixal, consist of industrial areas included in the Arco Ribeirinho Sul project, whereby the government is looking to redevelop the region, planning hotels, offices, shops, cultural venues, a marina and an intermodal river terminal.  Baía do Tejo, which is owned by Parpública, is in charge of developing plans for the area, called Lisbon South Bay. Original Story: Publituris Summary / Translation: Richard Turner  
 
M7 Real Estate Acquires 16 Properties in Portugal for €55.7 million
4 March 2019 M7 Real Estate (“M7”), a European investor and asset management firm, announced that its M7 Portuguese Active Fund (“M7 PORAF”) had acquired 16 assets across Portugal for €55.7 million. The acquisitions consist of multi and single-let urban logistics assets (48%), office and business parks (22%) and retail parks (30%). Total occupancy currently stands at 87.8%, with 41 different tenants occupying 100,999 square meters of space. M7 aims to add value by improving occupancy rates through active asset management, selective capital expenditure and updated marketing initiatives. Most of the assets (14) are located close to the capital cities of Lisbon and Porto,  while the remaining two assets are located in the Centro Region. SRS acted as legal advisor, Savills Portugal as technical advisor and Ambiente as environmental advisor for M7. Original Story: M Seven Real Estate Summary: Richard Turner
 
Lidl Invests €70MM in New Warehouse in Santo Tirso
15 February 2019 Lidl will build the new warehouse, in a 70-million-euro investment, in the Santo Tirso Industrial Park in the district of Porto, the German supermarket chain announced today. The ceremony marking the laying of the project’s first stone will take place on Tuesday. The new warehouse is slated to replace Lidl’s existing operations in Vila Nova de Famalicão. The ceremony came almost nine months after the supermarket chain announced that it would invest 100 million euros in the Portuguese market. On May 30, 2018, in Sintra, Lidl Portugal’s managing director, Massimiliano Silvestri, said: "we will invest 100 million euros during the current tax year [which started in March]." This amount, Mr Silvestri added, includes the opening of "a handful of shops", namely in Greater Lisbon, Porto and Algarve, and investments in two warehouses. "Our investment of around 20 million euros in the Torres Novas warehouse will begin after the summer," with the aim of expanding and modernising the warehouse, from 30,000 to 40,000 square meters, the managing director explained. "This year, too, we will begin construction on the warehouse in Santo Tirso, lasting three years, and replacing Famalicão, in a 70-million-euro investment." In a statement, the supermarket chain said it was "an innovative project, representative of an investment of 70 million euros in the northern region of the country, which will increase Lidl’s current in the region and bring added comfort to our contributors." Operating in Portugal for over 20 years, Lidl already "has more than 250 stores, four warehouses and more than 6,500 employees." Original Story: Lusa / Diário Imobiliário Translation: Richard Turner