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#Brainsflash

May 9, 2022

This week’s sale of an office building on Avenida de Berna for 15 million euros was the most noteworthy.

At the start of a month, when summer is already making itself felt, the sun also seems to be shining on the entire real estate sector. The dynamism is apparent all over the country, including the archipelagos.

Brainsre News Portugal learned that Palacete Benformoso in Lisbon had been placed on sale for 3.4 million euros earlier this week. The 19th-century palace is classified as Property of Public Interest and is located in the neighbourhood ofIntendente, one of the most attractive areas for investing in Lisbon today. Athena Advisers are marketing the manor.

Meanwhile, doValue announced the launch of a new luxury development in Funchal. The Casas Brancas project consists of 11 villas located in a tourist area of the parish of São Martinho, Funchal. Designed by the architect Paulo David, the development is set on a rectangular geometric base plot of about 3,322 m2. These villas are arranged on three levels, allowing for south-facing balconies and terraces with excellent natural light and sea views.

Soon after, a building on Avenida de Berna, currently occupied by Cofidis and Prosegur, was sold for 15 million euros. The property, located at number 54 Avenida de Berna in Lisbon, was acquired by a Portuguese institutional investor from Tristan Capital Partners’ CCP 5 fund. With a gross area of 3,825 m2 and 124 parking spaces, the building is located right in front of the Calouste Gulbenkian Foundation, between Campo Pequeno and Praça de Espanha.

In Lisbon again, we learned that the Promenade development had been completed. The project underwent a total investment of around 50 million euros. The building was the target of high levels of demand by foreign investors, who account for 80% of the building sales on Lisbon’s waterfront. Located at 24 de Julho Avenue, the Promenade enterprise is one of the real estate developer AM|48’s most iconic projects. The building was designed by the award-winning architect Frederico Valsassina and constructed by Mota-Engil.

Further north, Mercadona opened a new store in Póvoa de Varzim. With a sales area of 1,900 m2, this is the chain’s 31st supermarket in Portugal and the first in that city. Last Tuesday, Mercadona opened the new supermarket at Rua Comendador Francisco Quintas, in Póvoa de Varzim.

Also in the north, and approaching the end of the week coming up, Supera announced that it would invest €10 million in Gaia. Supera already operates two sports centres in Portugal and has seven more projects underway in Portgual. The Spanish group will build a swimming complex in Gaia, after having been granted a 40-year municipal concession. The Aquatic Training Complex will be built in Gaia’s Parque da Lavandeira. The Galician group Sidecu, which operates the Supera brand of gyms, has 45 locations in Spain and two in Portugal, and plans to invest 10 million in the facility. The brand also has other projects underway in Portugal, in Braga, Porto, Coimbra, Seixal, Barreiro and Lisbon.

Finally, in the logistics sector, a logistics operator has acquired land in Vila Franca de Xira for more than 2 million euros. The transaction was concluded in March, but was only just announced. The real estate credit and asset manager, doValue Portugal, intermediated the sale of a plot of land with a total area of 100,560 m2 to a well-known Portuguese logistics operator. With excellent access, the land is located in Castanheira do Ribatejo, Vila Franca de Xirae.