Latest news with #VanguardProperties
Yahoo
07-07-2025
- Business
- Yahoo
Vanguard Properties plans to sell four hotels and residences in Portugal
Lisbon-based real estate developer Vanguard Properties is aiming to sell four hotels and branded residences in Comporta, Portugal, as reported by Bloomberg. The properties are currently under development and are expected to attract a valuation in the "hundreds of millions of euros", according to Vanguard CEO Jose Cardoso Botelho. The sale is part of the company's strategy to refocus its portfolio on Portugal's residential market. This move comes amidst a flurry of activity from international investors in the Portuguese hotel sector, including a €150m ($177m) investment by Brazilian bank BTG Pactual and British asset manager Arrow Global's purchase of two hotels, a golf course, and a marina near Comporta. Hotels have been a resilient segment in European real estate, particularly as the continent grapples with rising interest rates that began in 2022. The sector has benefited from the ability to increase room rates, mitigating inflationary pressures, and a surge in demand fuelled by the post-Covid travel boom. Portugal, in particular, saw a record 31.6 million tourists last year. According to a January report by Cushman & Wakefield, investment in Portuguese commercial property increased by 28% to €2.2bn in 2024, with hotels accounting for approximately one-fifth of this investment. Foreign investors were responsible for 74% of the total investment in the sector. According to Bloomberg, Botelho said: 'The tourism sector is experiencing strong growth, both in Portugal and across key international markets. 'This is the ideal moment to proceed with asset sales.' He also commented that Vanguard anticipates completing the sale of the Comporta properties by 2026 and has engaged financial services company Alantra for assistance with the transactions. The hotels will offer between 70 and 150 rooms, alongside 50 to 90 residences per property. Additionally, Vanguard is looking to sell 20 apartments in the Algarve region due to licensing delays that have impacted the company's strategy for the project. Botelho said that this decision is not related to the company's financial health, noting that Vanguard's debt levels are at their lowest since 2018. Co-founded by Botelho and Swiss-French billionaire Claude Berda, Vanguard has grown to become one of Portugal's largest developers, boasting an investment portfolio exceeding €1.2bn. "Vanguard Properties plans to sell four hotels and residences in Portugal" was originally created and published by Hotel Management Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Bloomberg
05-07-2025
- Business
- Bloomberg
Top Portugal Developer Offloads Hotels as Tourism Breaks Records
Vanguard Properties, an early investor in Portugal's real estate boom almost a decade ago, is making the most of a tourism surge to cash in on some properties. The company is planning to sell four hotels and branded residences under development in the summer resort of Comporta, favored by international celebrities and European royalty for its exclusivity and pristine sandy beaches. Vanguard is aiming for a valuation in the 'hundreds of millions of euros,' said Jose Cardoso Botelho, chief executive officer of the Lisbon-based real estate developer.
The Sun
07-05-2025
- Business
- The Sun
Industrial UK town dubbed ‘hell on earth' to turn shabby old shopping centre into ‘go-to destination' in huge revamp
EXTREME MAKEOVER There are talks of another large national chain joining the centre A SHABBY old shopping centre in an industrial UK town is set to receive a multi-million-pound revamp. Property developers purchased the town's central shopping centre from former owners late last year, with major plans to transform it. 3 3 3 It comes two years after the town's centre was dubbed " hell on earth" by locals who were facing a series of youth vandalism occurrences. Youth gangs were known to start fights, vandalise and cause chaos particularly around the town's central shopping area. Locals claimed they were hold the town hostage, as youths on bikes were often seen entering stores, and terrifying customers of all ages. But last year, ambitious plans to revitalise the town centre from almost a decade ago began to be put in place. The Forum Shopping Centre in the heart of Sittingbourne, Kent was then bought for £2.4 million by Vanguard Properties UK Ltd from Praxis in December. Director of Vanguard, Kamal Farid, told KentOnline: "We want to attract a higher footfall into the shopping centre." He hopes to do this by enhancing the retail, food and beverages outlets. "The only way to do this is by attracting shops that you cannot find online", Mr Farid added. 'We also want to redevelop the shopping centre as much as we can, make it lively, make it a good place for families and all the people in the community to come here and enjoy their time. "This project was a very big challenge because there were nine vacant units [but] since our takeover in December, there are only four vacant units left.' Kent residents fuming at disturbance caused by local amusement park A Costa Coffee currently exists in The Forum, but there are talks of another large national chain joining the centre, which Mr Farid has not confirmed the identity of. The retailer is set to take on the largest unit of the complex, that was once the site of Tesco, Somerfield, and most recently Poundstretcher. This will be in unit number 19, which has been empty since 2022. In addition, an independent store called Julian's Pie and Mash is due to open in the coming months. Mr Farid also revealed Vanguard's plan to build 74 flats on the roof of the site, that will also help boost footfall. The redevelopment is expected to cost between £6 million to £7 million, and several years to complete. Its building will be done by 35-year-old Farid's company, Imperium Engineering, which he decided to take on due to The Forum's "iconic location". The shopping centre is located in a prime spot for the town, right across from the rail station with an entrance onto the High Street. Vanguard are planning to submit its proposals to Swale Council this week. The revitalised shopping centre comes nearby a new 24/7 gym, an eight-screen cinema and leisure centre complex known as The Light, a Travelodge hotel and a series of restaurants, that were introduced last year. The Forum first opened in 1989, and was owned by Tesco between 2008 and 2019, until it was bought by Praxis for more than £7 million before being sold to Vanguard.
Yahoo
24-04-2025
- Business
- Yahoo
This $10 Million San Francisco Penthouse Has Views of the Golden Gate Bridge, Coit Tower, and Alcatraz
Price differential aside, to really appreciate San Francisco's landmarks, you might just be better off buying this penthouse than taking a double-decker bus tour. The top-floor perch at the Royal Towers in Russian Hill has hit the market for $10 million. The modern abode, designed by Napa Valley's Erin Martin, is a sleek home base in one of California's most picturesque cities. From the 29th floor, you'll have unobstructed views from the downtown skyline to Coit Tower, Alcatraz, and both the Golden Gate and Bay Bridge. James Nunemacher at Vanguard Properties holds the listing. More from Robb Report One of America's Best Rye Distilleries Just Dropped a New Cask-Strength Whiskey Costa Rica's Most Expensive Home Is This $30 Million Mansion Overlooking the Gulf of Papaguyo Renault's New 'Mini-Supercar' Will Be Its Most Expensive Car Ever The two-bedroom, 2.5-bath unit encompasses 3,640 square feet on the uppermost floor of the William Turnbull Architects–designed building. The sweeping main room sports handcrafted woodwork, steel-trimmed aluminum ceiling panels, and artisanal plaster walls. In the living room, you can cozy up by the oversized fireplace that features a textured tile, while the dining area is capped by a circular ceiling feature. The chef's kitchen, meanwhile, is decked out with Fisher & Paykel appliances, custom poured-concrete counters, and multiple pantries. In the serene primary bedroom, the calming monochromatic vibe continues with a discreet ceiling-mounted TV. Dual sinks made of artisan-fabricated concrete anchor the primary bathroom, which also comes equipped with a soaking tub. Three private terraces wrap around the penthouse, offering expansive views of the surrounding city. The Royal Towers includes a host of amenities that include 24-hour door service, a conference center, and a rooftop pool contained in a glass structure. The penthouse comes with three parking spaces and extra storage as well. As far as San Francisco penthouses go, this one may actually be a pretty great deal. Other recent offerings to hit the market recently have asking prices way above $10 million: The Grand Penthouse at 181 Fremont was listed earlier this month for $35 million, far less than the $46 million price tag it carried when it soft-launched back in 2019. And in October, a duplex penthouse at the Pacific in Pacific Heights popped up at $30 million, though the price has since been reduced quite a bit, to $24.8 of Robb Report The 10 Priciest Neighborhoods in America (And How They Got to Be That Way) In Pictures: Most Expensive Properties Click here to read the full article.
