Portugal - Residential, Lisbon
Overview - Residential Building in Montijo, Lisbon
Acquisition of a residential building in the neighbourhood of Montijo in Lisbon, Portugal. Montijo is an upcoming neighbourhood where the new airport is proposed to be located. It is at a 20 minute drive from the current Lisbon airport and a 30 minute drive from Lisbon city center. The project site is located in the heart of Montijo
Strategy:
- The site is a 300 sq mtr land and is currently a ground storey structure only. There is an opportunity to add an additional 3 and a half storeys with a total built up area of 500 sq mtrs
- The Project is already acquired and all construction approvals are already in place
- The Business Plan is to build a total of 3 apartments in a span of 16 – 18 months
- 2 apartments with 3 bedrooms each (1,100 sq ft per apartment)
- 1 duplex apartment with 4 bedrooms (1,350 sq ft apartment)
- 4 parking spots
Post redevelopment, the asset will be leased on a long term basis with a gross yield of 6.3%. The cost of debt in Portugal is at around 3%
Property -Street View
Property - Current View
Proposed Property View
Property - Interior View
About the Location
Montijo is a municipality within the Setubal district, part of the Lisbon metropolitan area.
Montijo has become really prominent after the construction of the Vasco da Gama bridge and the completion of some relevant roads due to which its proximity to Lisbon has really shortened
There is also connectivity from Montijo to Lisbon via a short ferry ride that goes across the Tagus River into the heart of Lisbon.
The Montijo Airport project, which will work in combination with the current Humberto Delgado Airport in Lisbon, aims to transform part of an air base into a civil airport
Gallery
The Montijo Airport Project
Government could now change law to allow Montijo airport project
