Brits sell Uber headquarters in Lisbon

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The value of the deal has not been disclosed, but according to a report by ECO, property market sources say the deal was done for 18 million euros.

The head office is located in the building located at number 85 Avenida Barbosa du Bocage, in the Campo Pequeno district of Lisbon. Built in the 1990s and covering approximately 3,800 square meters, spread over six floors, it has been home to Uber’s headquarters since 2019.

The property was sold by the British Patron Capital and Finangeste — to the VIP fund, managed by Silvip, a company of the SIL group. The information was disclosed by Cushman & Wakefield which, in partnership with RPE, advised the sellers in this transaction. In 2019, Patron and Finangeste bought the building from Tranquilidade.

David Lopes, partner and head of capital markets at Cushman, quoted in a press release, said “this transaction is a reflection of institutional investors’ continued confidence in the present and future of investment markets and occupation of offices in Lisbon”.

Tim Second, Head of Capital Markets at RPE, says, “In times of relative uncertainty, investors always have confidence in the right product with the right yield. We will certainly continue to see transactional activity in the Lisbon office market over the next 12 months.”

In 2021, Uber has invested more than 90 million euros to create a center of excellence in the building, which can accommodate around 600 people. It is in this building that the company consolidates the operations of the private transport application, as well as Uber Eats.

The property also has 116 parking spaces and is also home to Park In, a company dedicated to operating the parking lot.

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