Lello Livraria buys Teatro Sá da Bandeira in Porto for 3.5 M € – Showbiz

Lello Livraria buys Teatro Sá da Bandeira in Porto for 3.5 M € - Showbiz

"If, after the final adjudication of the building, the buyer intends to transmit it to a third party, before or after the conclusion of the contract, the Municipality of Porto reserves the right of first refusal in the respective sale", read in the special conditions of sale.

The deliberation to open public auction of Teatro Sá da Bandeira was approved by the Municipal Assembly on May 7, with the abstention of BE, PS, CDU and PAN.

At the time, BE said it did not understand the "hurry" of the municipality of Oporto to sell the Teatro Sá da Bandeira public auction and warned that safeguards often turned into "dead letter".

PS, CDU and PAN were also apprehensive about the model that could be adopted, while the PS preferred that the building remained in the possession of the municipality and the CDU questioned if "it would not be preferable to wait for the conclusion of the process" of classification of the property, opened a year ago by the Directorate General of Cultural Heritage.

In response, Rui Moreira reiterated that the use of space is safeguarded with the classification of the property and stressed that, in case of default, the auction is reversible.

The municipality announced on June 23, 2017 the intention to buy Teatro Sá da Bandeira for 2.1 million euros and exercising the right of first refusal to "keep the theater with the social and cultural function" and not lose that heritage.

Also today, the public auction for the sale of an urban building at Rua Dr. Alberto de Aguiar, 32, in the parish of Campanhã, with a total area of ​​166 square meters, namely 60 of covered area and 106 of discovered area, which had as the base bid value of 40 thousand euros and that was sold for 55 thousand euros.

The municipality also adds that "the interventions to be carried out in said properties will have to be carried out in accordance with the norms imposed by the Municipal Master Plan of Porto and other applicable legal and regulatory rules".

The public auction of the two properties took place this morning on the 5th floor in the Paços do Concelho building.

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