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alternative Assets News: Spanish Real Estate Intelligence

U-World to Invest €67 Million to Develop Student Residences with 1,600 Beds
12 August 2019 U-World, a Portuguese student housing firm, is looking to begin construction on a student residence in Braga, its first development under the U-Loft brand. The company is simultaneously planning a second investment, this time in Coimbra, where it recently signed an agreement to acquire a plot of land nearby to the local university. A third project to set to go ahead in Aveiro, as U-World is planning a total investment of 67 million euros to build 1600 beds. The Braga project will consist of 230 flats, ranging from studios, 80% of the total, to four-bedroom flats, with a total of 368 beds. Construction on the 20-million-euro project is set to begin shortly and conclude at the end of 2020. U-World has already sold 39% of the units sold, many to Brazilian investors. The firm plans to charge around 250 to 300 euros for a 15-m2 studio. Original Story: Dinheiro Vivo - Sónia Santos Pereira Photo: D.R. Adaptation/Translation: Richard D. K. Turner
 
Polo da Ajuda Student Residence Inaugurated in Lisbon
25 July 2019 – Richard D. K. Turner THE first phase of the Polo da Ajuda university residence project, which will provide 180 beds for students beginning this school year, was inaugurated this week. The building is located next to the university canteen, close to most of the school’s colleges. Work on the project’s second phase is expected to begin shortly, adding another 120 beds to the new residence. The Portuguese government, concerned that rising property prices and rents are dissuading potential students from attending university, is looking to greatly expand the supply of student housing. Original Story: Diário Imobiliário
 
Livraria Lello Acquires the Teatro Sá da Bandeira in Porto
4 June 2019Richard D. K. Turner The owners of the Livraria Lello, which helped inspire the Harry Potter children’s books, acquired the Teatro Sá da Bandeira in Porto for 3.5 million euros in a public auction. The bookstore also filed an application to challenge any tenants' preemptive rights as the current occupant, Rocha Brito e Vigoço, openly considered the possibility. The auction had a base bid set at 2.19 million euros, with the requirement that the property continue to operate in its current capacity as a theatre. The building has a constructed area of 2,945 square meters, on a plot of land measuring 1,960 square meters. Original Story: Diário Imobiliário / Lusa