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Merlin Properties reinforces its presence in Portugal with Nestlé’s headquarters
09 September 2019 | Susana Correia

Merlin Properties, through its subsidiary MPEP, has just reinforced its real estate portfolio in Portugal, with the acquisition of Nestlé’s headquarters, in Linda-a-Velha, for 12.5 million euro.

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With the deal concluded this Thursday, Nestlé goes from being the owner to becoming the tenant of the building, having signed with the Spanish REIT a 12 year occupancy contract, with a break option at the end of the seventh year. CBRE advised Nestlé with the whole selling process.

Inaugurated in 1994, the Nestlé building was initially projected to host 450 people. However, as explained by the Swiss brand, the company’s continuous growth in Portugal during the last three years, «in particular the entry into service of two shared services centres (Nestlé Business Services Lisboa and Nespresso Global Supply Chain Hub) required a complete transformation into what will become the new Nestlé Campus, which will host 1.000 people».

Besides the agreed selling amount, Merlin Properties «will assume a very significant part of the investment in the necessary construction works for the refurbishment of the Nestlé Campus», explains the brand. The construction works should start in October and are expected to be concluded by the beginning of 2021.

The new layout – in line with Nestlé’s goal of improving the quality of life and contributing towards a healthier future – will insure a more efficient and flexible work environment, boosting the new ways of flexible work which Nestlé is implementing in Portugal.