Avenue Sells Store at 266 Liberdade 13.9 Million Euros

Avenue has stated that it had sold the store at 266 Liberdade for 13.9 million euros. The property has 1.300 m² and is located in the building which was formerly home to the Diário de Notícias, in Lisbon.

The developer Avenue announced the sale of the store located at 266 Avenida da Liberdade to the open real estate investment fund IMOFID. The fund is managed by Fidelidade Sociedade Gestora de Organismos de Investimento Coletivo (Fidelidade SGOIC). Avenue will spend 13.9 million euros on the acquisition, which Cushman & Wakefield advised.

The 266 Liberdade is the result of a renovation and reconversion project by Avenue. The work was intended to preserve the property, whose history and architecture are classified as public interest. The project also aimed to create a new benchmark for a mixed-use, residential and commercial building in Lisbon.