Novobanco to sell headquarter for €100 million

Novobanco is to advance with the sale of its headquarters on Lisbon’s Avenida da Liberdade – the price tag? €100 million.

The bank will abandon its prime location on Lisbon’s most expensive street, and move its operations across to new 2,800 m2 office spaces in Tagus Park, Oeiras.
According to ECO, the building — which would make a suitable conversion into a 5-star hotel with shopping galleries, restaurants, and apartments — was showcased in pre-sale state at the real estate fair MIPIM in Cannes, where it was presented to a number of possible buyers.
The financial institution has contracted the consultants JLL and Cushman & Wakefield to begin the sale operation for a starting price of €100 million.
The company will rent a completely refurbished 2,800 m2 office space at Lot 5 at Tagus Park. According to the magazine Visão, works have already begun on the space in a 55,000 m2 refit to the buildings which will house over 2,000 staff.
The space will have office areas, meeting rooms, leisure areas with gardens, gym and even a meditation room.
The project foresees joining three pre-existing buildings and building a fourth building from scratch.
After BPI, BCP and Caixa Geral de Depósitos, Novobanco will be the last large bank to leave the centre of Lisbon. Caixa Geral de Depósitos may also leave its current premisses on the city’s João XII at some time over the next few years.