Cushman & Wakefield has announced the placement of a Regus business centre in the Liberdade Street Fashion building in Braga's town centre.
The real estate consultants and the multinational Regus, specialising in the provision of offices and workspace, reached the agreement to set up a business centre in the Liberdade Street Fashion commercial premises, in Braga's town centre.
Regus is going to invest one million euros to create a centre of about 800 sqm which will enable it to cater for up to 120 clients, where the first tenant to occupy the new floor of offices will result from the conversion of an area previously used for retail purposes.
Cushman & Wakefield, which represents Regojo Group, the building’s owner, is responsible for managing and selling this asset, and in the last year it has been implementing a strategic plan to relaunch the commercial premises.
André Navarro, Partner and Retail Asset Management Director of Cushman & Wakefield, said that “since 2016 we have been trying to reposition Liberdade Street Fashion, achieving complete occupation of the original floor offices and capitalising on the growing demand for this type of tenant to convert the first floor – originally used for retail – for use by offices and services. The arrival of Regus, which will occupy nearly half of this floor, has meant the start of this transformation, and other multinationals are interested in occupying the remaining areas”.
The process of relaunching this building was also levered by Regojo Group's decision to have the Liberty Fitness Center installed in its entirety on the second floor. The retail section is now therefore completely concentrated on the ground floor, where in the last year Cushman & Wakefield has installed brands like Tiffosi, Zilian and Camport, amongst others.
Cushman & Wakefield's asset management team is 28 strong and has 403,000 sqm of property assets under management, of which 133,000 sqm are retail assets.