Developer Aegide has sold a building plot in Milan with planning permission for a residential-led scheme to an institutional investor.
Financial details were not disclosed.
Advisors Dils and Savills managed the competitive sales process on behalf of Aegide Milano Vivarini, a vehicle managed by Aegide.
According to the advisors, the development site attracted the attention of numerous institutional investors, thanks to the presence of an already approved urban planning process, and the attractiveness of Milan's residential segment.
The area, with a building capacity of over 8,000 m2, is located south-west of the city, near the Naviglio Pavese, at the intersection of via Carcano and via Vivarini. The area is easily accessible thanks to the extensive network of public surface transport and the vicinity of Metro line 2.
The new building will be strategically positioned about 15 minutes walk from the prestigious Milanese universities Bocconi, NABA and IULM.
Aegide was supported in the transaction by Osborne Clarke's Milan office.
