Savills Investment Management (Savills IM) has acquired two urban supermarket properties in Portugal for its European Food Retail strategy. The strategy has further equity available for additional purchases and is searching for suitable properties throughout Europe. The focus is primarily on Spain, Italy, the Netherlands, France, Ireland, Sweden and Finland.
The newly acquired supermarket properties are located in Vila Verde in northern Portugal and Montemor-o-Novo east of Lisbon, and are characterized by highly visible, strategically favorable locations with good accessibility. They were completed in December 2020 and March 2021, respectively, and are leased on a long-term basis to Continente, the market leader in Portuguese food retail. Both locations are operated under the urban convenience format Continente Bom Dia. The properties have BREEAM Very Good In-Use certifications. The tenant also installed photovoltaic systems on the roofs after completion.
“We have on
