Savills IM Expands Its Footprint in Portugal with Four New Supermarkets Acquisition

Savills Investment Management Acquires Four Supermarkets in Portugal

Savills Investment Management (Savills IM), a prominent international real estate investment manager, has announced its latest acquisition of four urban supermarkets in Portugal. This strategic move is part of its broader European Food Retail strategy.

With this acquisition, Savills IM's managed volume now stands at approximately €470 million, aligning with its goal to expand in key European markets, including Spain, Portugal, Italy, the UK, and the Nordic countries. This information has been reported by idealista.

The newly acquired supermarkets are leased long-term by Continente, the leading food distributor in Portugal. They are strategically located in Lourel, Leça do Balio, Loulé, and Mafra, with two situated in the Lisbon metropolitan area, one near Porto, and another in the Algarve, a popular tourist destination. These locations are characterized by positive demographic growth and significant commercial influence, making them prime targets for investment.

Fernando Ramírez de Haro, the general director of Savills IM for Spain and Portugal, expressed his enthusiasm for the acquisition, noting that these assets are an excellent complement to their previous purchases in Portugal. He stated, "We are very pleased to have identified and implemented this investment opportunity, which further strengthens our portfolio in Portugal. These are strategically located assets, leased to a leading operator and with great long-term potential. Portugal continues to demonstrate solid fundamentals and positive economic prospects, even in a complex European context."

Ian Jones, investment director at Savills IM, emphasized the resilience of the food distribution sector during the pandemic, highlighting its stability and attractiveness to investors. He remarked, "Food distribution offers a combination that is difficult to match: stability in income and high resilience, which has attracted numerous investors to this type of asset. Securing this investment in Portugal reflects the strength of our network and our ability to identify strategic opportunities on the continent."