Located on one of Lisbon’s main arteries and with a floor space of 4,500 square metres, the old CTT on Rua da Palma, which connected the Intendente neighbourhood to Martim Moniz, was sold at the start of the month to Clink Hostels for €10.3 million, which earned the postal company a pre-tax profit of over €8 million.
At a time when tourism in the capital is booming, the property will become the largest hostel in Portugal, as Clink Hostels says it is focused on creating a “chain of fun, social and creative hostels in the heart of some of the most exciting cities in Europe”.
The company claims to “offer young travellers affordable accommodation in the city centre and unique buildings”, such as a Victorian courthouse, a student association in London or an old laboratory in Amsterdam, now adding old post office in one of the most up-and-coming European capitals to its list.
“Lisbon is one of the hottest destinations in the world and we cannot wait for Clink to be there”, Niall O’Hanlon, director of acquisitions at Clink Hostels, said in comments to the media, adding: “We believe that Clink will be a great lodging option in this vibrant city and a valuable addition to youth accommodation available in the city”.