Cushman & Wakefield and JLL Appointed as Agents for HOP Project
Lisbon, September 10, 2024 – Cushman & Wakefield (C&W), in co-exclusive partnership with JLL, has been appointed to oversee the commercialization of the HOP project, located in downtown Porto. This project, which involves the redevelopment of the former La Vie shopping center, was announced last July and represents an investment exceeding €52 million by a joint venture between Tikehau Capital and Quest Capital.
HOP is a multifunctional development encompassing approximately 30,000 m², aimed at redefining the concept of business space in Porto. The project offers a modern and dynamic environment for both occupants and visitors, with a strong emphasis on sustainability. The development includes office spaces totalling around 15,700 m² across four floors, retail spaces covering 8,440 m² on two floors, and 416 covered parking spaces distributed over three floors.
The office floors are designed to enhance efficiency and collaboration among users, featuring a modular layout that can be tailored to the needs of any company. With a focus on user well-being and comfort, and the goal of fostering a true business community, HOP offers a wide range of amenities and services, including a rooftop bar covering approximately 800 m², a private outdoor area of 1,450 m², a 110-seat auditorium, 24/7 access control and security, a lobby café, locker rooms with 50 lockers and 10 showers, and a gym.
Sustainability is a cornerstone of HOP. In addition to the careful selection of materials, such as certified wood and the use of natural and artificial plants throughout various project areas, including the façade, the development features 42 electric vehicle charging points and a fully upgraded air conditioning system. The project is set to achieve LEED, WELL, and WiredScore certifications and will comply with EU Taxonomy standards.
Finally, HOP benefits from an exceptional location in the heart of Porto, at the center of all the city’s activity. Situated near Porto’s main shopping street, Rua de Santa Catarina, it is just a 4-minute walk from Mercado do Bolhão, 7 minutes from Rivoli Theatre, and 10 minutes from Ribeira. The site is well-served by a comprehensive transport network, with access to a metro station directly at the building’s entrance, and includes 90 bicycle parking spaces.
Maria João Pinto, Senior Consultant in the Office Department at Cushman & Wakefield, comments, “HOP represents the perfect synergy between centrality and well-being. Who wouldn’t want to develop ideas and projects in a cosmopolitan space with all kinds of amenities and high levels of sustainability? We are extremely proud to be involved in this project from the beginning. We understand exactly what companies are looking for, and this space, resulting from a rehabilitation, will undergo a profound transformation that fully aligns with these trends, making it undoubtedly a flagship office project in Porto.”
Cristina Almeida, Markets & Capital Markets Porto Director at JLL, adds, “We are thrilled to be part of the commercialization of HOP Heart of Porto. This project not only raises the standard for business spaces in Porto but also positions the city at the forefront of office buildings due to its innovative and disruptive characteristics, while ensuring employee comfort, meeting sustainability requirements, and offering a prime location. It also includes a retail area where leading brands will be present, as this is the best high street location in Porto, complemented by services for those who work there. With projects like HOP, we reaffirm our commitment to promoting spaces that shape the future of the city and the real estate sector.”
Emilio Velasco, Head of Real Estate for the Iberian Peninsula at Tikehau Capital, stated, "With HOP, we are bringing to life a vision that combines innovation, sustainability, and connectivity in the heart of Porto. This project is not just a revitalization of an existing space but a profound transformation that will redefine the standard for business environments in the city. Our partnership with Quest Capital and the involvement of Cushman & Wakefield and JLL ensure that HOP will be a landmark of excellence, offering an environment that not only meets the current needs of companies but also anticipates their future demands. We are proud to commit to this project, which we believe will act as a catalyst for Porto’s development as a vibrant and sustainable business hub."
