King Sturge forms partnership with Italian broker Gabetti

UK property adviser King Sturge said on Monday it has formed an association with Gabetti Property Solutions, one of Italy's leading real estate brokerage firms.

Headquartered in Milan, Gabetti was founded in the 1950s by Giovanni Gabetti and is listed on the stock exchange. The group provides local and international clients with a range of commercial services including agency, property management, research and valuation, as well as offering residential services through a franchising network. Gabetti has nine offices in Italy, including Milan and Rome and employs 73 staff.

Richard Fiddes, Managing Partner for Mainland Europe at King Sturge, said: 'Italy has been a significant gap in our network for the last few years and with the European markets now starting to recover as well as our clients looking to expand, we are delighted to have formed an association with Gabetti. Our new associates have a lot of experience in the marketplace and we are excited to see where this new joint initiative takes us.'

'The agreement with a major international player such as King Sturge is an important milestone for us,' commented Giorgio Lazzaro, CEO of Gabetti Agency. 'The partnership is aimed at internationalising our business, granting us the opportunity to serve our clients abroad and to attract capital and foreign investors to the Italian market.' Significant deals recently concluded by Gabetti include the sale of a 4,700 m² office building in Milan, currently leased to Credit Agricole, on behalf of Italian banking group Mediolanum for EUR 26 mln, as well as the leasing of a 5,000 m² office building in Naples for UGF Banca, a major Italian banking and insurance group.