Temprano to inaugurate €40 million students’ residence in January
Temprano Capital is to launch a €40 million students’ residence project, Livensa Living Lisboa, in the Portuguese capital in January 2021.
Livensa Living Lisboa will open in the city’s Entrecampos district close to a number of university academic faculties in the first week of January.
The project, which will have 595 beds and offer International community living with a 24 hour support and 24/7 services, looks from the outside like a luxury hotel, but is part of a new generation of university halls of residence with prices per month starting at €450 per month to just over €1200 with average prices hovering around €700-€750 per month.
The plot of land on which now stands TSL Entrecampos, on Rua Sousa Lopes, was acquired from the municipality in July 2017, following a successful public tender. Located between the downtown Entrecampos transport hub and the main University Campus, the site comprises 16,500 m2 of constructed area, and provides 420 studios and generous common areas including a rooftop swimming pool, movie theatre, gymnasium, chill-out areas, common rooms, and private dinner party rooms.
Temprano Capital Partners, based in Barcelona, is a private European real estate investor and developer, created in 2013.
Led by Neil Jones and James Preston, with over 50 years combined sector experience, Temprano is formed by a multidisciplinary team located in Madrid, Lisbon and Barcelona. In addition to halls of residence it also offers bespoke asset management and development strategies for shopping centres, retail and leisure parks in Spain and Portugal.
The company’s other student residences in Portugal includes the TSL Campus, Porto, TSL Marquês de Pombal, Lisboa, TSL Boavista, Porto, TSL Coimbra Ribeira, Coimbra and now Entrecampos, Lisbon.
Nationwide, it provides accommodation for around 1,500 students in the three cities, consolidating its position as the most significant investor in the market for university residences in Portugal with an overall investment of over €100 million.
In Lisbon, Temprano’s first student residence project, Collegiate Marquês de Pombal on Rua do Conde Redondo (TSL Marques de Pombal) opened in 2018 in the city centre in a joint project between it and CHS PAN European Holding Cooperatief, a fund managed by W.P. Carey and operated by premium international operator, Collegiate after an intensive 10-month refurbishment of the former CTT post office headquarters.
It offers 330 student accommodation studios each with a bathroom and totally fitted kitchen. The architectural project was by José Quintela da Fonseca with architect Bernardo Durão.
Investing in innovative projects for youth
One of the company’s press releases states: “one of the goals of Temprano Capital Partners is to invest in projects that bring innovation, modernity and youth to Portugal, without forgetting the magical essence of their cities”.
Neil Jones, one of the founding partners of Temprano, explains that: “we had been studying this market for months, and the first asset [the Conde Redondo] we acquired was in 2015. We identified this sector of university residences, practically non-existent in Portugal, as a strong growth area, hence our bet. ”
“The truth is that it is not easy to find the kind of scale we need. It is challenging to find a 10,000-square-meter building in city centres,” says James Preston, another founding partner.