Avenue is preparing to invest in a new project located on Avenida Fernão de Magalhães in Porto. At stake is an investment of 150 million euros by the developer.
The building, which has stood still for almost 20 years, will be converted into the Fernão Magalhães 127 development with approximately 49,000 square metres of residential, commercial and office space, and will contribute to the revitalisation of a prime area of Invicta.
This new private condominium is distinguished by the implementation of innovative solutions that combine technology and sustainability in a condominium that is ready for the future. The project has a central and privileged location, close to the Campo 24 de Agosto Metro station and other public transport links.
The spaces are already being co-exclusively marketed by JLL, Luximos Christie's and Savills/Predibisa. The flats, ranging in size from 35 sqm to 144 sqm, were designed by OODA. Each space favours elegance, comfort and the maximisation of typologies, making them truly functional. On the upper floors, the balconies and terraces of Fernão Magalhães 127 have 360º views: sea, river, mountains and city. The finishes, materials and equipment are of superior quality, with an emphasis on national brands and environmental, energy and environmental efficiency.
"We're very excited about this new AVENUE project - Fernão Magalhães 127. It's a 'mixed use' project, with the main focus on housing, which will not only redevelop an important urban area, but also reinforce Avenue's investment in Porto. It's a development that reflects our commitment to the city and to the well-being of the local community," says Aniceto Viegas, CEO of Avenue.
There are plans to install photovoltaic panels to produce electricity and all the flats have private covered car parks, with pre-installation for charging electric vehicles and parking bicycles.
