Convento do Beato sold to Swiss family office

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The Convento do Beato currently owned by Cerealis has been sold to the Swiss group Larf Properties for an urban development project developed by architect Tomás Salgado.

Larf Properties, an investment holding, “will press forward with an urban project for the site designed by architect Tomás Salgado.

The Swiss group believes the project will “benefit and add value to one of Lisbon’s most innovative areas with scores of start-ups and states it will continue to invest in activities and events at the Convent long-term” according to the Managing Director of the Larfa Properties Group, Stephane Delplancq.

Details about the deal have not been divulged such as the value of the deal, the development area of the site or the conclusion of the project.

Cerealis acquired the Nacional in 1999 and with it came the Convent of Beato but the demands and stipulations of the urban programme mean that the specific competencies and skills required do not fit with the group’s strategies.

Rui Amorim de Sousa, CEO of Cerealis states, “We have found a partner which will make it possible to maintain the Convent’s activities as well as implementing a high-quality urban development project which will be very important for the Beato area.”

The Tryba family, through its investments holding Larfa Properties is excited with the completion of this deal and is aware of the “responsibility of maintaining this heritage which is of incalculable value to the city.”