Vanguard in €30 million mansion refit

Vanguard Properties, owned by French millionaire Claude Berda, is to raise the bar in luxury offer in the capital by converting an old 19th century mansion in Lapa into a house with a €30 million price tag.

Quite possibly the most expensive house for sale in recent years, the des-res on Rua do Quelhas will have various lounges and halls, a swimming pool, wine cellar with sampling area, private cinema and games rooms, as well as a 600m2 garden. These are just some of this project’s features and amenities in the mansion which formerly was occupied by the broadcaster RDP’s Radio Museum.

“The cost of the investment in Lapa One is in the order of €25 million, including the land and works. The project will be submitted to Lisbon City Council and we hope that we can begin the works in 2021,” José Cardoso Botelho, the Managing Director of Vanguard, considered one of the largest foreign investors in Portugal, told the weekend broadsheet newspaper Expresso.

The sale of this more than 2800m2 property will be undertaken by a closed private auction. With a price tag per square metre of around €10,000, the final market value of this mansion could hover between €28 million and €30 million, an amount that is a true record (for a single home) without parallel in the historic centre of Lisbon.

“As the goal is to build a single-family home, we want some decorative details to be sorted out with the buyer,” adds Cardoso Botelho, saying that the project will begin to be shown to potential buyers from the first quarter of 2021.

Expresso knows that Vanguard has already been contacted by an interested party from Brazil and also an English citizen looking for a large town house in Lisbon.

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