March 29, 2023

Brazilian buys Luzzo in downtown Porto for a million – Real Estate

At the end of September 2018, Luzzo Pizzaria opened its second restaurant in the city of Porto, located in Rua Mouzinho da Silveira, between São Bento station and Ribeira.

At the time, this national catering chain, operating on a franchising basis, had 11 restaurants across the country.

Today, there are already 27 Luzzo Pizzaria in Portugal, including Mouzinho da Silveira, which occupies an area of ​​171 square meters and is “rented on a long-term contract”, which has now changed hands.

“A private investor of Brazilian origin has acquired for one million euros a store occupied by the restaurant Luzzo Pizzaria, installed on two floors of a renovated building in Rua Mouzinho da Silveira,” reveal the consultants Athena Advisers and JLL, who carried out this transaction. , in a statement.

When asked about the identity of the buyer, Negócios replied that since “it is a private investor, in these cases it is not possible to reveal the name.”

In any case, “this acquisition was made by a client we had already accompanied in the residential market in Lisbon who has now invested with us in a commercial asset,” says David Moura-George, managing director of Athena Advisers. in Portugal, a consultant who worked on behalf of the buyer “in his first venture in the commercial sector in Portugal”, with JLL representing the seller, “also a private investor”.

“Brazilian entrepreneurs withdraw their capital from Brazil”

For this official, this act “is another example that reinforces a trend that we have seen for some time and is related to the fact that foreigners who buy houses in our country end up diversifying their portfolio, investing in products of the commercial sector “.

“This will be more and more repeated and, in the near future, Brazilian investors will stand out in this type of investment because of the insecurity in their country and the instability that the political decisions of the current government can cause to entrepreneurs. because they are withdrawing their funds from Brazil and investing them in other markets, including Portugal. Moreover, every time these buyers diversify their activities, they do so with increasingly high “tickets”, which in some cases can reach 30 million euros.” points out the general manager of Athena Advisers in Portugal.

For Salvador Leite Castro, head of private wealth investments, Capital Markets JLL, the transaction of the space occupied by Luzzo Pizzaria on Rua Mouzinho da Silveira “is a clear sign that Porto is on the radar of investors and that commercial properties continue to be sought after. in a capital diversification strategy’.

(Nonew update at 10:25)

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