Cushman & Wakefield sells former industrial property of Schering
26 Sep, 2011, Lisbon
Cushman & Wakefield has recently announced the sale of Schering's former industrial property in Mem Martins, Sintra, Portugal.
The property occupies a total area of 18,248 m2 and contains a mixed use building of offices, a warehouse, former production areas and social areas, with a total built-up area of 2,804 m2.
This former industrial property was placed on the market after Schering Portugal had been acquired by Bayer Portugal some years earlier. Although it has been vacant for some time, the property is in a good preservation conditions and is excellently located in IC19, one of the most important industrial area and dynamic districts of Greater Lisbon. The property was acquired by a national investor, and Cushman & Wakefield acted on behalf of Bayer Portugal, the owner of the former industrial property.
Ana Gomes, associate and director of the industrial and land department of Cushman & Wakefield in Portugal, said “Despite the tough conditions in the market, the IC19 corridor is still experiencing substantial demand. Without doubt this is a very important location as thousands of companies and businesses are established there and because of the critical mass of residents who live, work and go shopping in the district. The entire Mem Martins district also benefits from exceptional road access, and we predict that the special status it has acquired in recent years in terms of receiving new companies and commercial units will continue to flourish.