10 September 2019
Merlin Properties, a Spanish socimi which has a portfolio of approximately €1 billion in assets in Portugal, has acquired Nestlé’s headquarters at Rua Alexandre Herculano 8, in Linda-a-Velha for 12.5 million euros. MPEP, a Portuguese subsidiary of Merlin Properties, acquired the property in a sale & leaseback operation, in which the Swiss company will remain in the building with a 12-year lease and a break-option at the end of the seventh year.
The property, inaugurated in 1994, was originally designed to accommodate 450 people. Nestlé’s continued growth over the past three years, especially with the launch of two shared service centres – Nestlé Business Services Lisbon and Nespresso Global Supply Chain Hub – means that it now needs to accommodate roughly 1,000 people. Merlin intends to invest in a complete transformation of the property into what will be known as the Nestlé Campus.
Original Story: Economia Online – Rita Neto
Adaptation/Translation: Richard D. K. Turner