Resolution Property has completed the purchase of its second property in Portugal – a retail development in Evora to the east of Lisbon.

€55m
The investor, in consortium with fellow UK company Madford Developments and Portuguese property investor and asset manager Imorendimento has committed €55m (£39m) to the 266,945 sq ft scheme. The purchase was revealed by Property Week last month.


2009
The scheme includes a shopping centre and a retail park, which will be anchored by DIY retailer Mestremaco. The trio are in advanced negotiations to secure an anchor tenant for the shopping centre.

The scheme, which is yet to be named, is expected to complete in 2009.