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Call for bids open for Boehringer in Milan

13 November, Il Sole 24 Ore

The call for tenders for the Boehringer Ingelheim Italia has been recently launched. The location is in Porta Romana, Milan, near the Prada Foundation, a very dynamic area which attracts many Italian and international real estate groups.

The area for sale has a surface of 15-20 thousand Sq m. The site is occupied at present by some buildings which accommodate, among other things, the manufacturing activity of the pharmaceutical company. The area is valued around 25-30 million euro, but the potential buyer will have to budget other 50 million euro of capital expenditure for the construction.

The first non-binding offers are supposed to arrive by the end of the month to Cbre, the advisor for the operation. Among the players interested in the investment, there are Coima, who acquired the Camuzzi building nearby, and Cavalchini-Sirolli. Some groups are also focused on the added value such as Blackstone, Dea Capital and Ardian. Some players might aim at redeveloping the area for residential uses, although it seems easier to build offices, especially considering the vocation of the area and the proximity of business estates such as Symbiosis by Beni Stabili.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi