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Zurich concludes purchase of Cuatrecasas’ headquarters
30 April 2020 | Ana Tavares

The purchase of the Cuatrecasas’ headquarters in Lisbon by Zurich is concluded. The deal was closed at the end of February, as confirmed by the owner, Prédio do Lado.

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The amount of the sale was not disclosed but, in November 2019, market sources contacted by Spanish newspaper Eje Prime indicated that the transaction could be concluded for around 25 million euro.

Located at Praça Marquês de Pombal, the building has 4.324 sqm of GBA above the ground, spread across 10 office floors, 3 underground parking areas and a retail unit on the ground floor.

The building will continue to be occupied by Cuatrecasas until its relocation, in 2021 to number 6 Fontes Pereira de Melo avenue.

Prédio do Lado was represented, in this transaction, by Cushman & Wakefield, in terms of commercial consultancy, and by Cuatrecasas in terms of legal consultancy.

Paulo Sarmento, Partner and Director of Capital Markets at C&W, commented in a release that «it was with great satisfaction that we collaborated with Prédio do Lado in one more operation that constitutes a reference for the national real estate market. This building and this location are absolutely iconic, in perfect consonance with the criteria of the largest investment powerhouses which have Portugal under its radar, and which are willing to return to activity as soon as circumstances allow it».