RPE has announced the sale of a building at Rua Andrade Corvo 42, in Lisbon, on behalf of a Portuguese institutional owner. The asset is now owned by a Portuguese family office. Located in the centre of the capital, 20 metres from Avenida Fontes Pereira de Melo, the office building is fully leased to a company owned by Volkswagen.
According to Tim Seconde, Head of Capital Markets at RPE, "following a total refurbishment, the asset is effectively brand new and is fully let to a company owned by Volkswagen. National investors, who can buy with 100% equity, are gaining market share in the Portuguese office market. Where there is a good rationale for purchase, there continues to be demand for office investment products, despite the increased caution in Europe around the sector. We are proud to have achieved a good result for our client."