Cushman & Wakefield has been hired by Italian asset manager Investire Immobiliare to advise exclusively on the sale of a prime 22,000 m2 office building located in the historic centre of Rome.
Cushman & Wakefield has been hired by Italian asset manager Investire Immobiliare to advise exclusively on the sale of a prime 22,000 m2 office building located in the historic centre of Rome.
The trophy asset, located in Piazza Augusto Imperatore, is owned by Investire's state-sponsored Fondo Immobili Pubblici.
Built in the 1930s, the 22,000 m2 building functions as a prestigious architectural frame to the Mausoleum of Augustus and could potentially be redeveloped into a hotel and residential asset. Currently occupied by the Agenzia del Demanio, the state property agency, the premises will be released by September 2015.
'There is strong investor interest in the Italian market and opportunities of this type are rare in Rome. For this reason, we believe the property has the potential to attract a large number of investors, especially international ones,' commented Carlo Vanini, head of the Rome office and capital markets business space team at C&W.
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.
Fondo Immobili Pubblici was the first real estate investment fund to be sponsored by the Italian State in 2004 as part of the privatisation process carried out by the Italian finance ministry involving around 400 properties across the country.
