Entire Building - Travessa da Memória
Investment Summary: Travessa da Memória – Lisboa, Belém
Property Overview
- Address: Travessa da Memória, Lisbon – border of Belém & Ajuda
- Building: 3 openspace units (Ground, 1st & 2nd floors)
- Change of use: From PT to PH (via Câmara Municipal process)
- Condition: Devoluto (vacant)
- Total Area: 102m²
Scenario-Based Financial Analysis
Key Assumptions & Risk Controls
- Works Budget: ~€110.000 based on a €1.050/m² cost benchmark
- Capital Structure: €454.000 project capital (acquisition + works)
- Operator/Investor Profit Split: 25% / 75% under CAEP contract
- Exit m² Price Reference: €5.900/m² per Idealista/Casafari
- Conversion Process (PT → PH): Begins after CPCV signed; estimated 6 months
- Sales Forecast: Based on surrounding market comparables & neighborhood liquidity
Control Measures:
- Conservative cost projections
- No dependency on debt financing
- Dedicated capital accounts per project
- No co-mingling of operational capital
- Pricing aligned with trailing 3-year appreciation trend
Neighborhood Insights: Belém / Ajuda
- Strong local demand due to tourist flow and architectural heritage
- High absorption rate for refurbished T1s under 40m²
- 3-year average appreciation: €5.200 → €5.900/m²
- Recent listings within 300m show active price bands between €5.600–€6.700/m²
Cost Efficiency Analysis