C&W has recently been appointed as property manager of Étoile 240 building, located on the prime location of Avenida da Liberdade, in Lisbon. Owned by Largetoile, the building totals a gross leasable area (ABL) of approximately 1,800 m2 of offices, with a 575 m2 retail space on the ground floor, currently occupied by Cartier's flagship store, and 28 private underground parking places.
During this stage Cushman & Wakefield will be responsible for the building's technical management, including the initial preparation of the budget and shared expenses, hiring services, billing and processing of payments, amongst other services.
Bruno Silva, associate and head of Cushman & Wakefield's property and asset management department in Portugal, said “this new appointment consolidates our successful relationship with this important client, and allow us strengthening our position in this prestigious avenue to make it a reference for all local and international visitors”.
In 2011 C&W also handled the sale of the property to the investor Largetoile and in 2012 was responsible for placing Cartier in the building. Together with B.Prime, C&W is the leasing agent of the Étoile 240 offices.
With 32 employees, Cushman & Wakefield's property and asset management team currently has 36 office buildings, 6 shopping centres and 4 industrial facilities under management, amounting to an area of over 347,000 m2 and annual revenue of 43 million Euros.