Lisbon appointed as exclusive letting agent of Porto Plaza

23 Mar, 2006, Oporto

Ferreiros & Almeida, a joint venture between Martifer and Finibanco, has appointed Cushman & Wakefield’s Lisbon office as exclusive letting agent for its first shopping and leisure centre in Portugal - Porto Plaza, in the centre of the northern city of Oporto.

Porto Plaza is expected to open in April 2007. It has a gross lettable area (GLA) of 19,500 sq m with a total 80 retail units, including two anchors, Virgin Active and Media Markt.

This will be the first health club in Portugal for Virgin Active, part of the Virgin Group, headed by Richard Branson and which currently has 115 health clubs worldwide. In addition, Cushman & Wakefield is presently assisting Virgin Active in defining its expansion strategy for Portugal.

This will be the fifth store for Media Markt, the German consumer electronics retailer, adding to the over-430 stores that it currently has across Europe.

Porto Plaza will serve a population of more than 640,000 people in a 30-minute catchment area, with 420 parking spaces and direct access to the metro.

Isabella Jurado-Blanco, Associate in Cushman & Wakefield's Lisbon Retail team: "We have already let half of the gross lettable area of the scheme, with the remaining area currently under negotiation – we are very pleased with the results."

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