retail-shopping-centers Market News: Portuguese Real Estate Intelligence

Fidelidade Acquires Smithson Plaza in London for €177 million
11 January 2021 The insurance company Fidelidade has acquired an iconic property in London, the Smithson Plaza, which consists of three buildings with a total surface area of 7,525 square metres. The property had previously housed the headquarters of The Economist magazine. US-based Tishman Speyer Properties sold the buildings, including the 14-floor and 4,831-m2 Smithson Tower, the Denham Building, covering 1,022 square metres, 790 square metres of which are flats; and the 5-floor Bank Building, which comprises 465 square metres of office space. The property is located at 25-27 St. James Street in the British capital, according to several international newspapers, and has 91% of its mixed-use area occupied. The property also has shops, a gallery and a restaurant. Original Story:  Eco Sapo Translation: Richard Turner
2020 Saw the Third Largest Volume of Real Estate Investment in Portugal
6 January 2021 JLL has estimated that 2020 will be the third-best year ever regarding commercial property investment in Portugal. Despite the pandemic, investors maintained a high volume of transactions, with commercial investment totalling approximately €2.6 billion, compared to €3.240 billion in 2019, a drop of around 20%. According to the consultancy, residential real estate investment reached €25.1 billion 2019, compared to estimates of €24.1 billion by 2020. According to Pedro Lancastre, JLL's managing director, "the year began with a surge in all of the market segments and, were it not for the COVID-19 pandemic, 2020 would have been the best year ever for this sector, breaking new records. This totally unexpected situation… has disrupted every facet of our lives, with a profound impact on the economy and also on the real estate market." Original Story:  Vida Imobiliária Translation: Richard Turner
Spain’s Tander Acquires Five Shops on Avenida da Liberdade for €13 Million
22 December 2020 – Tander acquired five more shops in the Liberdade 203 building, a luxury property on Lisbon’s Avenida da Liberdade. The company had already purchased four other stores in the building in October. Tander Liberdade acquired just over 3 million euros in assets, while Tander Douro paid the remaining 10 million euros. The shops acquired by Tander Liberdade are located on Avenida da Liberdade, while the rest are situated along Rua Rosa Araújo. The Spanish socimi now owns 14 shops in Portugal, not only in Lisbon but also in Porto, in the Aliados 107 building, with a total investment of approximately 50 million euros. Original Story: Jornal de Negócios Translation/Summary: Richard Turner