(Visited 68 times, 1 visits today)
(Visited 68 times, 1 visits today)
  • Transaction / Assets
    Porta Susa station in Turin
  • Seller
    Sistemi Urbani (Rfi)
  • Buyer
    Vastint Hospitality Italy
  • € MM
    20

Ikea invested over 20 million for the Porta Susa train station in Turin

22 September, Mole24

Ikea has bought the old Porta Susa station.

The Swedish leader of furniture has carried out a very expensive negotiation to obtain the space. Specifically, the agreement was entered between the real estate company Vastint Hospitality Italy, a subsidiary of Interogo Foundation, the holding that also owns Ikea, and the owner of the area, Sistemi Urbani (Rfi).

As Corriere.it reported, the operation was concluded with an offer for 6.4 million euro to purchase the station. The buyers will also commit to renovating the area with an investment between 15 and 18 million euro. Hence, the total investment will amount to over 20 million euro.

However, they won’t build a new Ikea store. Nothing to do with furniture, household items, garden and shop furnishing. Instead, a boutique hotel will rise here. It will cater mainly to millennials coming to Turin.

It’s an ambitious project. The objective is to turn the station into a space dedicated to young travellers, mostly aged below 40 years. In this case, style and affordable prices will be the key elements.

It will be another hotel under the Moxy brand. Moxy is already present in other big cities like Milan, Paris, London, Vienna, Frankfurt, and so on.

A long and troubled operation has come to a conclusion. A much-needed solution has finally been found for the old station of Porta Susa. A new beginning, with the aim to preserve the property and enhance its prestige.

Source: Mole24

Translator: Cristina Ambrosi

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