Saldanha Residence is a commercial gallery in the central business district of Lisbon, which presented evident performance difficulties: reduced and falling occupancy, difficulty attracting new operators, decreased customer traffic, and a sharp decrease in rents. Based on keen market intelligence and national & international experience, a comprehensive solution allowed for an underperforming asset’s re-generation.
Avenida Fontes Pereira de Melo, Lisbon
7.400 sq m
JLL multidisciplinary team developed this project with specialists in Design Strategy and Retail Leasing.
- Retail leasing: Mandate for the lease of the retail space.
- Strategic Design: Design Audit
Development & Outcome:
JLL presented Banco Santander with a step-by-step proposal for refurbishing and repositioning the center to reverse the trend of loss of asset value. The process began with a Design Audit, aiming at identifying the main commercial problems of the gallery and positioning it to respond to the most recent retail spaces demands and consumer trends. Following the auditing mentioned above, a complex intervention was designed, including layout redesign and image & branding renovation, proposing a phased intervention to manage investment and supervision needs. A renewed concept fostered interest by new brands, which eased the commercialization of the retail spaces. The integrated solution designed for the gallery had very positive impacts on its performance. While tenant occupancy increased more than 20% in two years, footfall increased by 50%, mainly surpassing 2M visitors in 2019. Furthermore, tenant sales have increased, on average, 20% per year since 2018.