Case Study - Coats & Clark Gaia
Over the last decade, C&W was instructed by Coats & Clark Portugal to sell the companies’ industrial facilities located in Famões (Greater Lisbon) and Gaia (Greater Porto). The Famões property, that accommodated the company’s zip factory (Opti-lon) had a site area of 14,000m² and included a main building with a total built area of 3,830m². The property in Gaia, which was the company’s main facility in the country and home of the thread manufacturing, had a site area of 62,223m² and 24,236m² of built area.
Coats is the world’s leading industrial thread and consumer textile crafts business employing over 20,000 people in over 70 countries around the world.
C&W was selected by Coats & Clark in 2004, to provide strategic, transactional and consultancy services globally after a competitive selection process that included major corporate real estate firms.
Following our global appointment, C&W was instructed to sell the company’s industrial properties in Portugal following the relocation of production to other countries from 2005 to 2010.
The Opti-lon factory was the first property to be sold. The property was located in the center of Famões (municipality of Odivelas, just outside Lisbon) on a main road and right in front of the Cometna industrial facility, in an area increasingly residential.
The Gaia property was sold in the last quarter of 2013 at a time when the Portuguese property market was virtually stagnant and with bank financing almost nonexistent, especially for properties such as this one, which implied at least partial, if not total, refurbishment or redevelopment.