Spain 
Italy 
Greece 
BCP Selling Tagus Park Office Building for €6.4 Million
6 February 2019
The building is currently occupied by BCP itself, which expects to remain as a tenant until at least the first half of 2021.
Millennium BCP is selling one of the Tagus Park office buildings it owns in Oeiras. According to Wednesday’s real estate supplement in the Público newspaper, the bank will be open for offers until February 28. BCP is asking for a minimum of 6.4 million euros for the asset.
According to the publication, the building comprises 3,400 square meters of offices, three floors and 3,800 square meters of parking, and is located on a plot of land separate from the rest of the Oeiras business park.
The financial institution’s objective is to conclude a sale and leaseback operation, as it wants to maintain its operations in the building until at least the first half of 2021. BCP is currently offering to pay 30,000 euros in rent per month, “with a contract of no less than 30 months,” providing a yield of nearly 6%, said Ramiro Gomes, the head of the bank’s Specialised Credit and Real Estate Department.
Mr Gomes added that BCP is willing to finance the acquisition for potential buyers “with more favourable conditions and lower fees.”
Original Story: Dinheiro Vivo / Lusa
Photo: António Pedro Santos / Lusa
Translation: Richard Turner