Savills IM acquires two Lisboa Park retail units from Bogaris for EUR 23 million

28 September 2020

Savills Investment Management (Savills IM), the global real estate investment manager, has acquired two of the three retail units comprising the newly built Lisboa Park retail centre for EUR 23 million from Bogaris. This constitutes the latest addition to Savills IM’s existing portfolio in the Iberian Peninsula, with a total value of EUR 1 billion.

Savills IM has acquired two of the three units comprising the retail park, with a combined gross leasable area (GLA) of nearly 11,000 sq m. Both units are occupied by leading operators in their sectors and have long-term leases in place. The first of the units, at nearly 5,000 sq m GLA, is occupied by Continente Modelo Supermarket, Portugal’s leading food retailer with a market share of over 21%. The second unit is home to international furniture operator Conforama, with a GLA of 6,000 sq m. The retail park’s third unit is occupied by a leading DIY sector operator.

Lisboa Park is a newly built asset – development completed in the first half of 2020 – located in Alta Lisboa, one of the Portuguese capital’s primary residential expansion areas, which is currently seeing significant new developments attracting middle-class residents. It is the closest retail park to Lisbon’s city centre and is located in an area with over 2.8 million inhabitants.

The retail park was developed by Bogaris, which has completed over 800,000 sq m GLA in Spain, Portugal, Bulgaria and Romania. 

Fernando Ramírez de Haro, Head of Spain and Portugal, Savills IM, said: 

“We are delighted to have completed this transaction. Investment in the current retail market is complex, and we were able to successfully close a very attractive deal with quality tenants, offering great future business stability. We remain alert to further opportunities in the Iberian market for Savills IM, our clients and strategic partners.” 

Savills IM was advised by Cuatrecasas and Arcadis on this transaction, while Bogaris was advised by Macedo Vitorino & Associados and Retail Partners Europe




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