Global real estate adviser Cushman & Wakefield is exclusively advising Investire Immobiliare SGR, on behalf of the state-sponsored investment fund Fondo FIP – Fondo Immobili Pubblici, on the sale of a prime office building located in the historic centre of Rome.
This trophy asset, located in Piazza Augusto Imperatore, represents a unique investment opportunity. It stands in the heart of Rome and within walking distance from Via del Corso, Piazza del Popolo and the Spanish Steps. Built in the 1930s, the building functions as a prestigious architectural frame to the Mausoleum of Augustus.
The 22,000 m² (GLA) building could potentially be redeveloped also to hotel and residential, making it an extraordinary opportunity to create value in one of the key neighborhoods of Rome. Currently occupied by the Agenzia del Demanio (state property agency), the premises will be released by September 2015.
Carlo Vanini, Head of the Rome office and Capital Markets Business Space team at Cushman & Wakefield, said: "There is strong investor interest in the Italian market and opportunities of this type are rare in Rome. For this reason, we believe that the property has the potential to attract a large number of investors, especially international. The transactions recently followed by Cushman & Wakefield in Rome indicate that values offered for trophy assets, although adjusted, remain very high."
Cushman & Wakefield’s Capital Markets and Hospitality teams will be managing the sale through a competitive process, with set dates for the submission of the letters of interest and offers. Thanks to the collaboration of Cushman & Wakefield’s EMEA Capital Markets team the sale will also have international visibility.