The industrial complex of the former pasta factory A Napolitana, in Alcântara, was purchased from the Auchan Group by an international consortium comprising real estate specialists RFR Holding LLC and CGC, and the international group Artemis Education with a view to building an international school that it will cost more than 50 million euros, between acquisition and construction.
The process was brokered by the international consultant Athena Advisers who represented the consortium in its first acquisition in Portugal. This will also be the first school of the Artemis Education group in the city of Lisbon.
The deal culminates in the long-term lease of the set of four buildings with a total area of 12,000 square meters and the preservation of the original façades, “unique representative of Portuguese industrial architecture in the 20th century”, according to Athena Advisers. The interior will be renovated to modernize and adapt the facilities to teaching, and the construction of a fifth building on the property is also planned.
“We are very pleased with the conclusion of this deal. In addition to having achieved the first investment in Portugal by renowned world real estate companies, this operation brought to an emblematic location a reference tenant that will allow not only to rehabilitate the building while preserving its historical legacy and architectural, but also to enhance this area. An international school will bring new life to an area that is in full revitalization”, says David Moura-George, director of Athena Advisers in Portugal.
The former factory of A Napolitana is located in the block formed by Rua de Maria Holstein, Rua da Cozinha Económica and Travessa de Teixeira Júnior, in Alcântara, where it was built in 1908. In 1926 the factory was acquired by Companhia Industrial de Portugal e Colónias (CIPC) that kept it in activity until 1970.
Designed by a group of French architects and designers, the original project remains a reference of Portuguese industrial architecture from that century until today.