Real estate advisor Savills has confirmed it represented retail specialist Corio in the acquisition of Le Vele & Millennium, Cagliari, Sardinia from Schroder European Property Investments for EUR 103 mln.
Real estate advisor Savills has confirmed it represented retail specialist Corio in the acquisition of Le Vele & Millennium, Cagliari, Sardinia from Schroder European Property Investments for EUR 103 mln.
Le Vele & Millennium Centre forms the dominant regional shopping centre destination for the Province of Cagliari. It is anchored by leading brands such as Oviesse, Cisalfa, Tutto Chicco, Feltrinelli, Bata, Mcdonald's, Co-Import, Warner Village, Joyvillage and Unieuro.
The retail gallery comprises 13,936 m2 at ground level totalling 62 stores. The entertainment centre, which opened in 2001, provides 17,980 sq m (193,541 sq ft) of trading space including retail, restaurants/cafè and a multiplex cinema. Warner Village anchors the leisure element, comprising 8,668 sq m situated on the first floor, with Unieuro, JoyVillage / LuckyVille (Family Entertainment Centre) anchoring the ground floor element together with a further 13 retailers. There are 3,200 parking spaces.
William Gould, director of investment for Savills Italy, says: 'These centres are by far the most dominant in the region and present Corio with excellent rental growth opportunities for the future.'
Cushman & Wakefield represented Schroder European Property Investments.
