The bet is that the region (Baixo Augusta, Consolação and República) has already gained housing, gastronomy and culture, but still lacks a corporate offer – to the point that large consultancies do not even monitor inventory, vacancy or prices there. The closest comparison is Av. Paulista, where vacancy is below 3% and rent is R$ 140/m² (data from Cushman & Wakefield). Ilion expects to close contracts between 50% and 65% of this level.
The building, named Consolação Building, already has half of the slabs leased, and 8 of the 10 stores on the ground floor are in the process of leasing, with a focus on gastronomy, culture and services. The slabs have a thousand m² and 20 parking spaces per floor — something rare in the region, usually marked by smaller sets. The target audience includes startups, technology companies and "creative industries" (agencies, fashion, architecture/design).
The work is expected to end at the end of 2027 and the project is in the approval phase of the municipal program Requalifica Centro. The manager is negotiating the marketing mandate with a large consultancy and aims to stabilize the asset in 18 to 24 months, with an IRR target close to 20% and future sales estimated between R$ 100 million and R$ 150 million.
