C&W has announced the successful sale of eight buildings on Avenida Duque de Loulé, to companies of GFH Group and ENDUTEX Group, for approximately €10 million.
In this transaction, Cushman & Wakefield acted on behalf of Spinveste - Gestão Imobiliária, SGII, S.A., a company of Sonae Capital Group.
Luís Rocha Antunes, partner and head of C&W investment team and David Lopes, associate from the same department, were the responsible consultants for providing these services.
"The refurbishment of the properties under scrutiny could influence the area they are located in, as they consist of 8 buildings looking out onto 3 different streets. This entire zone of the city will be drastically transformed, recovering the urban quality it used to have", said David Lopes.
José Guimarães of Sonae Capital commented, "Sonae Capital has a clearly structured and responsible strategy for selling assets. We are pleased to see the buyers are Portuguese and believe they have the capacity to deliver a renewal project, which if approved will give the city of Lisbon a very attractive offering".
According to Rui d’Ávila of GFH, "GFH Group believes this project and location have the potential to become a sizeable urban renewal case study, with well-organised integration".
André Ferreira, of Endutex Group said, “This location is strategic for our hotel project, and arises at a particularly positive time, meaning we are confident in its success”.