Liberdade 203 acquired by B.Prime
The property management of Liberdade 203 on Lisbon’s most expensive street, Avenida da Liberdade (Liberty Avenue), has been acquired by Portuguese property consultancy B.Prime.
The property was redeveloped by exclusive property sales and rental company Avenue, which in 2017 invested €100 million on six properties, turning them into luxury apartments with prices per square metre ranging from €8,000 to €12,000.
In two years, the empty Liberdade 203 building which had been earmarked for part of the headquarters of the collapsed bank Banco Espírito Santo, has been transformed in 44 luxury apartments, all sold, with others in a development phase for amounts between €800,000 and €1.5 million.
Also in Lisbon, a new 77 luxury apartment condominium is planned for Saldanha. Casal Ribeiro is located in one of the most central and prime areas of the city with topologies ranging from T0 (49 m2) and T4 (223 m2).
The redevelopment is being undertaken by Stakecorp – a venture capital fund set up in December 2014 and is being commercialised by Jones Lang LaSalle and Porta da Frente Christie’s in a co-exclusive arrangement.
The complex will boast a common swimming pool, gym, 24-hour security and concierge. The apartments will be spread over four blocks with their own unique styles and concepts: Action, Selection, Collection and View. The building retains its original late 19th century façades.
Another redevelopment project, República 37 in Lisbon’s Avenida da República has won three awards. The late 19th century building on the corner with Avenida Miguel Bombarda, which belongs to the Chinese developer Engi, was totally restored and revamped and has 5,000 m2 in 2017. It won in three categories in the National Urban Rehabilitation Awards: Residential Project; Lisbon City Project, and Structural Rehabilitation.
In the 19th century it held apartments, but in recent years was used for offices and even a school. It was bought by Engi in 2014, one of the first Chinese companies to invest in real estate in Portugal and which spent €7 million on the revamp.