M&G Real Estate Invests in Prime Italian High Street Retail
17 Marzo 2015
Merope Asset Management acquired Via della Spiga 5
20 Luglio 2016
Opening ceremony of the Via Torino building.
This evening at 6 PM will take place the opening ceremony of the new development on Via Torino, Via della Palla and Via Lupetta in Milan. The building was developed on a site abandoned since bombing occurred in World War II.
The new building has a total GLA of approx. 6.000sqm + 3 underground parking floors and will host retail, offices, residential and parking spaces.
Being Via Torino one of the Milan city center main Retail High streets, the Retail surface has a prominent role in the development. The 3.700sqm Retail facing Via Torino are considered the major Retail High Street new development that ever occurred in town.
The entire retail space was pre-let to the Teddy Group, a leading Italian and International fashion player. Teddy will trade in the building with 2 flagship stores of its 2 main brands, Terranova and Calliope. The let Retail space was acquired in March by M&G Real Estate. The transaction yield is considered a new benchmark for the Milan retail market.
The development has a market value exceeding Eur 100.000.000,00.
