Sonae and Ratisbona Sell Land in Setúbal

1 August 2018

The real estate consultancy Savills Aguirre Newman is marketing a plot of land owned by Sonae in Setúbal. Inserted in a “tertiary urban and housing network”, where other commercial groups such as the Continent, Lidl, Aldi and Pingo Doce and the Atlantic Retail Park operate. The land is on sale for €3.5MM, the consultancy confirmed.

With an area of ​​18,883 m2, the land has construction capacity of up to 18,630 m2 but no approved project, Savills confirmed.

The land is part of a set of areas owned by Sonae in Setúbal, which had considered the development of a Retail Park and the Setúbal Forum, but the projects never went ahead.

Another plot of land is on sale next to the land that Sonae is currently selling, belonging to Ratisbona, also being marketed by Savills Aguirre Newman.

Ratisbona, a specialist in developing commercial projects such as spaces for Lidl and Aldi, has a project approved by the Municipal Council of Setúbal for commercial use, but “does not rule out the possibility that it may be altered for residential use”, António Correia, the head of Portugal and Spain for Ratisbona, stated.

With an area of ​​more than 9,600 m2, the price requested by the owner was not disclosed.

Original Story: Construir

Photo: DR

Translation: Richard Turner