Acacia Point Capital acquires Procter & Gamble’s Portuguese Headquarters
Acacia Point Capital, together with the pan-European property fund of Signal Capital Partners LLP, has acquired Procter & Gamble’s Portuguese headquarters building. Procter & Gamble established a presence in Portugal in 1989, and is one of the biggest fast moving consumer goods companies in the country.
The multi-storey office building is fully let on a long-term basis and forms part of the Quinta da Fonte Office Park (QDF). Located 15km west of central Lisbon, QDF is Portugal’s 2nd largest office park. Fronting the A5 highway, it is strategically positioned between Lisbon and Cascais, at the heart of the capital’s white collar residential neighbourhoods. QDF is a favoured business address for the country’s leading pharmaceutical, engineering, financial services and technology companies. It offers employees a short commute and a convenient and attractive landscaped business park environment.
Acacia Point Capital now manage a portfolio of 10 buildings at QDF and are well advanced with the execution of various value-creation initiatives including the provision of additional car parking facilities, improvements to internal traffic flows, the enhancement of amenities including food, beverage and leisure facilities and the cosmetic refurbishment of buildings, gardens and common areas.
Managing Director of Acacia Point Capital, Matthew Walker, said “We have made significant advancements towards the consolidation of ownership and reinvigoration of management at QDF. Our on-site team has made transformational improvements, with further enhancements in the pipeline. These changes are creating a fantastic community-focussed work environment, evidenced by the number of corporates moving to QDF. People who enjoy where they work are more effective at their jobs and it is a win-win for companies who recognise how the workplace is changing. With the strong letting demand for well-managed office solutions, we anticipate being close to full occupancy by the end of 2019”.