PRESS RELEASE
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Beato Sol 15, a 1959 Warehouse Converted into 137 Serviced Studios
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The Lisbon group behind Hygge Kaffe and Hygge House brings a hotel-style residence, with a restaurant, café and pool open to the neighbourhood, to east Lisbon’s fastest-developing district
Smith & Adams, the Lisbon real estate group behind Hygge Kaffe and the Hygge House residences, is converting a 1959 concrete-and-steel warehouse in Beato into Beato Sol 15, a managed residence of 137 furnished studios with the facilities of a hotel. The building on Rua Sol a Chelas is due to open in 2028.
The warehouse’s original structure, with its long open spans and high ceilings, gives the building a character a new build could not match. Smith & Adams is restoring it and redesigning the interior as three blocks of studios around a pool and planted courtyard. Each studio measures around 42 to 47 m² and has a full kitchen, a private bathroom and separate sleeping and living areas and is delivered furnished and ready to live in.
The building has more than a dozen carefully considered amenities, all run by the group itself: a restaurant and an all-day café open to both residents and non-residents, a gym, an outdoor pool and garden, a coworking floor, a convenience store, a private screening room, a games room and lounges, secure parking, bicycle storage, daily housekeeping, a 24-hour staffed reception and even its own dog washing station.
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Beato is one of the most rapidly developing parts of Lisbon, its warehouses, port sheds and factory floors are being converted at scale, anchored by the 35,000 m² Hub Criativo do Beato tech and creative campus in the former military supply complex
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Beato Sol 15 is designed for the people that change brings: professionals, founders and visitors who stay for weeks or months rather than days
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Baixa is ten minutes away and metro, rail and the riverside cycle route are also close by
George Hobson Head of Investment & Strategy, Smith & Adams, said: “Good development investment opportunities start with seeing where a city is heading before everyone else does. Beato today feels a lot like Shoreditch did twenty-five years ago with old warehouses, a growing tech community and right next door, Marvila’s galleries, street art and craft breweries drawing people east. We saw that kind of change early in Penha de França and Campolide, and we see it now in Beato. Beato Sol 15 lets investors buy into the district while it is still taking shape, with a team that has more than 25 completed projects behind it. Studios are available now, for investors anywhere in the world who want to be part of a neighbourhood at the start of its story.”
Beato Sol 15 will be operated by the same Smith & Adams team that runs Hygge Kaffe and Hygge Residences that have become a fixture of Lisbon’s neighbourhoods. Everything from letting and reception to cleaning and laundry is handled in-house, with nothing outsourced.
Smith & Adams lets and operates the whole building as one residence, so owners do not need to find tenants or a manager. Owners receive income under a fixed-price lease agreement for the first five years, with a choice of exit options agreed at purchase. Pricing from €280,000.
The project will create around 55 jobs in Beato once open, in reception, hospitality, housekeeping and maintenance.
