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Vanguard Invests €30 Million in a Residential Tower in Lisbon

30 May 2018

The building at Castilho 203 will be converted from an office into a 14-floor residence with just 20 apartments. Vanguard Properties, a Portuguese real estate investment group, led by a European family office, bought the building from ESTAMO through a public tender, and will now rehabilitate the property within 18 months. Vanguard will invest about 30 million euros in the project, for both purchasing and rehabilitating the property.

The building is a 14-floor tower, with an additional four below ground floors, and will have just 20 two- and three-bedroom apartments and a penthouse on the 13th floor. The penthouse will have an area of 287 m2 plus an approximately 260-m2 panoramic terrace at the top of the building. The terrace will have a private pool, fireplace, barbecue and kitchenette.

The apartments will be divided between Sky Flats with breath-taking 360-degree views and City Flats that emphasise the building’s proximity to the Parque Eduardo Vum II and the sensation of green that seems to pervade the dwellings. Both have premium finishes.

Castilho 203 will also have an indoor pool on the ground floor, an 8th-floor outdoor pool, a spa/gym on the first floor, large reception and concierge services. ARX Arquitectos is in charge of the architectural project. The building will also have an installation by the artist José Pedro Croft, which will be designed specifically for Castilho 203 and placed in the entrance hall.

“The Castilho 203 project will be unique in Lisbon, for its quality, exclusivity, location and incredible views. The building will have just 20 apartments, accentuating the fact that it is the most exclusive residence in the capital. The penthouse will also be a unique property due to its size, the quality of finishes, its city views and amenities such as its private swimming pool on a 260-m2 panoramic terrace,” José Cardoso Botelho, Managing Director of Vanguard Properties, revealed.

Original Story: Diário Imobiliário

Translation: Richard Turner