UK-based private equity firm Henderson Park Capital has announced an €25 mln investment program in a Portuguese business park acquired in 2020 for €421 mln.
Located in Oeiras, Lagoas Park consists of 15 Class A office buildings and is considered as the largest business park on the Iberian Peninsula.
Launched in 2021, the four-year modernisation project will upgrade the facilities and collaborative spaces used by the employees of the nearly 90 companies based at Lagoas Park and the 7,000 daily visitors.
The aim is to align the business park to current workplace demands, namely more collaborative, functional and sustainable spaces, indoors and outdoors.
The investment will also boost the sustainability credentials of Lagoas Park, with the aim of obtaining BREEAM certification of at least 'Very Good'.
Ronan Webster, director of asset management, Henderson Park, said: ‘In 2002, the year of its inauguration, Lagoas Park was considered 'Best-in-Class' Office Park. This investment plan will ensure that the Park remains among the top business parks in Europe and adapts to the changing demands of national and international tenants in Lisbon's dynamic office market.’
Cláudia Ribeiro, CBRE, asset manager of Lagoas Park, added: ‘Lagoas Park is an iconic office park in Iberia, both for its size and the iconic brands that occupy it. CBRE's management strategy now intends, in full collaboration and proximity with Henderson Park to gradually reposition the project, reinforcing its leadership position and, above all, highlighting its most distinctive features, such as the green spaces, technology and innovation present in each building, and especially the activities program that was built focused on the office users and their experience.’
Lagoas Park is a hub for the technology and pharmaceutical sectors, chosen as the Portuguese HQ by international companies such as Google, Samsung, BMW, SAP, Johnson&Johnson, Sanofi, Oracle, Cisco, Volvo, and BP.
Besides the office buildings, the business park also includes a central plaza, a four-star hotel, conference center, health club, college, a shopping gallery and 12 restaurants, served by 5,000 parking spaces and integrated into a landscaped green area.