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  • Transaction / Assets
    Centro Hospitalar de Lisboa Centro Sells Three of Eight Properties on Auction
  • Seller
    Centro Hospitalar de Lisboa Centro
  • Buyer
    n/a
  • € MM
    1.7

Portugal’s Health Ministry Sells Just Three of Eight Buildings on Auction

27 September 2018

The ADECO building was left out of the auction after the city council stated that it had opted to hold onto the property.

The Centro Hospitalar de Lisboa Centro, which initially announced the property auction last week, wrapped up the event having sold just three of the eight buildings on offer. The properties are located in different areas of the city.

A vacant lot located at 188 Rua do Século attracted the most interest and sold for 809,000 euros, 170,000 euros above its base bidding price. 42 Travessa do Cabral was another of the properties that became the focus of attention of the few people who appeared at the Alto dos Moinhos auditorium, in Lisbon. The building sold for 370,000 euros, close to its base bid price of 340,000 euros. The plot of land on the Largo da Ajuda was sold at its base price of 533,000 euros.

The remaining five unsold properties would have brought in a total of 5.36 million to the CHLC’s coffers. The three sales resulted in receipts of 1.7 million euros for the hospital. The most valuable building, located at Rua Arco da Graça, was not even tendered for the stipulated amount of 2.4 million euros.

The two plots of land that eventually sold do not have any current inhabitants. However, the building on Travessa do Cabral, near Santa Catarina, is occupied by an elderly resident who has an opened ended lease. The building also has two unoccupied floors.

The building which houses ADECO, a nursery school with 86 students, was left off the list of properties for sale after the Lisbon city council purchased the asset last week. The PCP political party had feared that the educational association would be evicted after the sale. Lisbon’s mayor Fernando Medina guaranteed that the city would sell or lease the property to ADECO.

The Left Block, on the other hand, had hoped that the city council would acquire all of the properties to convert them into affordable housing.

On the way out of the auditorium, one of the bidders complained that the CHCL failed to advertise the auction properly and that this might have been one of the reasons for the low turnout and sales.

Some of the participants signed up just moments before the start of the auction, which was the reason for the slight delay that occurred at the opening of the session.

Original Story: Público – Sebastião Almeida / Ana Fernandes

Photo: Nuno Ferreira Santos

Translation: Richard Turner