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MERLIN BUYS OFFICE BUILDING IN LISBON FOR €29M

Merlin Properties have invested in Lisbon once again, buying the Central Office building, in the Parque das Nações, for 29 million euros (2,859 euros/m²). 

This transaction brings to 150 million euros the total ammount invested by the Spanish socimi in the Portuguese capital office market over the last two years, where was already the the owner of such iconic buildings as the Caribe Building, the Tower A from Torres de Lisboa, the Monumental Building.

Designed by Frederico Valsassina, the Central Office is situated in one of the most sought-after office zones in Lisbon: the Parque das Nações. It offers an 10.310 m² GLA, fully occupied.

This deal foresees an initial gross yield of 6,8%, according to EuropaPress.

In Lisbon, Merlin already owns 50,000m² of office space. In June 2015 it bought the head office of Novabase, also in the Parque das Nações, for 18 million euros. In March 2016 it bought the Monumental building and Tower A of the Torres de Lisboa for a total 103 million euros.