Italy's public real estate agency, Agenzia del Demanio said that there is strong interest from investors in the Caserma Piave property which is up for sale, with 24 expressions of interest during a first meeting with real estate investors.
Italy's public real estate agency, Agenzia del Demanio said that there is strong interest from investors in the Caserma Piave property which is up for sale, with 24 expressions of interest during a first meeting with real estate investors.
The sale of the former Piave barrack in Albenga, in the Liguria region is expected to be completed by the end of November. The property, marketed with a starting price of EUR 40 mln, offers redevelopment potential to be transformed into residential space, services facilities or hotel accomodation.
Agenzia del Demanio's director, Paolo Maranca, said that the operation is part of a major strategy by the Italian state to unlock value from its real estate assets. Last year, the government sold EUR 165 mln worth of properties while another EUR 80 mln of assets have been divested so far in 2010.
'The redevelopment project for this asset will give new momentum to the entire city,' said Albenga's Mayor Rosalia Guarnieri. 'I am convinced that the strategic location of the complex, located opposite the Gallinara island, will contribute in raising the asset's attractiveness for investors.'
