3 October 2017
The building in the old town of Milan has been at the centre of the debate in the past few years. First, it accommodated the luxury department store Coin Excelsior, then it went to a Chinese company, and now it’s on sale. Beni Stabili is one of the main real estate companies in Italy and has put on sale the building located in Galleria del Corso in respect of the company strategy of focusing on offices in the city.
For this reason, the company decided to sell to the best bidder the most valuable asset in its portfolio, expecting to cash an amount close to 120 million euro. The buyer will make an income investment, being the property occupied for commercial use.
The Excelsior opened to compete with the neighbouring Rinascente in Piazza Duomo, with the time the store has managed to acquire its client base, offering branded clothing and accessories, as well as gourmet food.
Translator: Cristina Ambrosi