Avenue Begins Construction of The Cordon in Chiado

17 January 2018

Located in the heart of Chiado, in Lisbon, The Cordon development, promoted by Avenue, is preparing to enter the construction phase. With units on sale since the end of 2017, 42% of the flats have been sold already, according to the promoter.

The building will consist of 12 flats spread over seven floors and will be rehabilitated, maintaining the original layout while offering contemporary levels of comfort.

The Cordon is one of Avenue’s six projects in the centre of the capital, its second in Chiado, and is the target of investments worth 13 million euros.

In the first months of the development, 42% of the units were sold, and more than 50% of the buyers were foreign, with Portuguese nationals accounting for roughly 40% of sales. Aniceto Viegas, Avenue’s general manager, sees this as an extremely positive sign.

“Typically, 60% of the units in our projects are sold during the first six months after its launch, while the remainder are sold during the construction phase. The Cordon is following that trend, as we managed to sell 42% of the apartments in the first two months of sales. ”

Mr Viegas added, “It is interesting to see that demand from Portuguese investors is keeping up. They are increasingly coming to view real estate as a safe investment option. Families are returning to the city centre and want to make Chiado and Lisbon their new home.”

The Cordon is the result of a careful rehabilitation process that aims to honour the building’s 18th-century Pombaline heritage by preserving the façade and main architectural elements of the time, such as the masonry, the tiled roof and the glazed tiles on the walls. The second floor historically considered the noblest part of the building, is decorated with frescos on the walls and ceilings, and the company is also carefully restoring the period tile mosaics.

Original Story: Construir

Translation: Richard Turner