• Transaction / Assets
    Eight properties
  • Seller
    Lisbon City Council
  • Buyer
  • € MM
    9.29

Lisbon City Council raises 9.29 million euros from sale of eight properties

14 July 2017

Seven plots of land for construction and five fractions for non-residential use were made available for sale. The four unsold assets are lots or parcels of land for construction

The Lisbon City Council today raised € 9,295,202.00 in a public auction of five autonomous fractions and three lots, according to the municipality, indicating that the buyers were Portuguese nationals.

In a note sent to the Lusa news agency, the municipal director of Property Management reported that, during the auction held in the Campo Grande municipal building, “17 distinct bidders participated, all Portuguese, with five individuals and 12 companies.”

Altogether, there were “seven parcels of land for construction and five fractions for non-residential use” on sale, and “the four unsold assets are lots or parcels of land for construction,” stated António Furtado.

The five autonomous fractions – all sold – are located in the parishes of Santa Maria Maior (Martim Moniz and Rua Áurea), Lumiar (Rua Bento Jesus Caraça) and Misericórdia (Rua do Vale).

The successfully auctioned parcels of land are located in Belém (Rua Horta e Silva), Parque das Nações (Rua Conselheiro Lopo Vaz) and Santa Maria Maior (Rua Áurea).

Two parcels of land in Belém (Rua Dom Jerónimo Osório and Rua Gregório Lopes) and two lots of land in Lumiar (Quinta dos Alcoutins) remained unsold.

There was a total of 81 bids, with the highest level of bedding focused on a plot of land for construction on Rua do Vale, in the parish of Misericórdia,” the official stated.

Still, as far as values ​​are concerned, the property sold at a highest price was a plot of land on Avenida Recíproca, for an amount totaling €5,940,000.00.

In total, “the eight assets sold yielded a total of €9,295,202.00 euros to the municipality, when the base value of the bidding was €8,764,000.00,” says António Furtado. In a statement released today, a spokesman for the PSD candidate for the presidency of the Lisbon City Council stated that Teresa Leal Coelho “accompanied the municipalities asset auction held this Friday in Campo Grande.”

“Teresa Leal Coelho has campaigned against the indiscriminate sale of assets by the Lisbon City Council,” said the note sent to Lusa, noting that “the PSD candidate advocates a reversal in the management policy of the heritage and financial resources” of the municipality.

“Teresa Leal Coelho is committed to overseeing the use of the revenues raised from the sale,” it also stated.

Original Story: ALM / Lusa

Translation: Richard Turner