Cushman & Wakefield (C&W) was involved in the sale of Almirante Barroso 32, an office building located in the Saldanha area of Lisbon, which will be converted into residential use. The consultancy advised on the transaction on behalf of the seller, a fund managed by BPI Gestão de Ativos.
Almirante Barroso 32 is a building comprising approximately 4,500 sq m, distributed across seven above-ground floors and two basement levels, including 39 parking spaces. Currently configured for office use, the asset benefits from a strategic location in an area with strong residential and corporate demand, excellent accessibility, and close proximity to a wide range of services, retail, restaurants, and public transport.
The building represents a significant opportunity for refurbishment and conversion into residential use, supported by its scale, configuration, and prime location. These characteristics make it particularly well-suited for the development of a residential project targeting the mid-high or premium segments, aligning with the repositioning of existing urban assets.
“This transaction confirms the growing importance of office-to-residential conversions in central Lisbon. In 2025, around 20% of office investment was directed towards assets intended for change of use, highlighting the strong interest in this type of opportunity, a trend that has continued throughout 2026. We would once again like to congratulate both the seller and the buyer on the successful completion of this transaction,” comments Cristina Machado, Associate, Head of Office Investment at Cushman & Wakefield.
