AXA IM Alts, acting on behalf of clients, and Sierra Real Estate announce the creation of a joint venture for the development of a state-of-the-art office building that will be located on top of the Centro Colombo shopping centre in Lisbon.
The c. 35,000m2 office scheme will be the third office building to be added to the 173,000m2 Colombo mixed-use complex. It will comprise nine flexible floors designed to accommodate different occupier requirements, with 495 dedicated parking spaces in an underground car park. Occupiers will also have direct access to the wide range of amenities on offer at Centro Colombo.
The office building will be developed in a contemporary architectural style, designed by Reify, with a special emphasis on flexibility, innovation and sustainability, prioritising the quality of space and the comfort and well-being of its users, targeting LEED and WELL Platinum certification. The project was conceived to target very high sustainability standards and ensure excellent environmental and energy performance.
The construction launched in September 2022, beginning with the structural work inside Centro Colombo. The next phase of development will focus on the exterior of the building, with completion expected by the end of 2025.
Esther Escapa, Head of Transactions and Development, Iberia at AXA IM Alts, commented: “This transaction presents a unique opportunity to build on the established reputation and success of the Colombo retail and office scheme, whilst allowing us to raise the bar for sustainable development to deliver a prime new office building into the structurally under-supplied Lisbon market. We are confident that this high-quality and technologically advanced project will provide the type of office space that businesses are now prioritising as we embrace new ways of working.”
Alexandre Fernandes, Sonae Sierra Managing Director for Developments, added: “We are very excited to join forces with AXA IM Alts, a partner with a recognized track record and reputation in the development of real estate projects, to create a unique project in terms of quality, size, sustainability, and users’ well-being. We will leverage our local knowledge and experience to ensure this development becomes a successful investment, as demonstrated by the achievements of Centro Colombo and its two existing office buildings.”
Image provided by FTI Consulting.
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