Rua Castilho 15
| Acquisition Date: | April 2006 |
|---|---|
| Ownership: | Managed on behalf of Mare Nostrum Capital Managers for Drago Real Estate Partners Ltd. www.marenostrumcm.com |
| Description: | Residential building including retail units on the ground floor located in the city centre of Lisbon with a total area of 5,440 sqm and 62 parking spaces. |
| Business Plan: | Located in the heart of Lisbon's city centre (near Liberdade Street). The original business plan contemplated the refurbishment of the main façade and adding 3 new floors to the current structure. Drago obtained the Town Hall's approval to refurbish the building. The project contemplated 18 new high-end apartments of different types, such as 2 bedroom apartments (127 sqm) and 6 bedroom duplex apartments (420 sqm). Rua Castilho is also one of the most demanded streets by high-end retailers and Drago currently offers two excellent retail units that have areas of 182 sqm and 228sqm respectively. |