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(Visited 742 times, 1 visits today)
  • Transaction / Assets
    Building in Milan
  • Seller
    NA
  • Buyer
    Trophaeum
  • € MM
    34.5

Trophaeum bought a building in Milan for 34.5 million

14 December, Il Sole 24 Ore

Milan is on the radar of institutional investors. The confirmation comes from Trophaeum, the London-based real estate company specialised in luxury properties. The company has recently acquired a historical building in Via Mascagni 6 in Milan for 34.5 million euro.

The building has a surface of 6 thousand Sq m. It was built in 1935, and it features plenty of windows and a large terrace. Trophaeum selected the property for its locations and its potential. Via Mascagni is not far from Via Montenapoleone and the fashion district Quadrilatero, and it’s just a few steps away from the new train line which will link the city centre to the Linate airport.

The building is currently occupied by offices and apartments, but Trophaeum might change the intended use. Several blue-chip companies and co-working spaces already expressed their interest in renting the offices. However, it’s not to exclude the possibility that the group might turn the building into a luxury hotel.

Milan, which has always been Italy’s business capital, has now become also a tourist destination with an increasing number of visitors coming from all over the world, especially from Asia.

Trophaeum Managing Director Matt Farrell commented: “We’re happy with the acquisition in Via Mascagni. The architecture of the building is remarkable with its beautiful terrace. We intend to transform and add the asset to our international portfolio. We invested in one of the most prestigious locations in Italy, allowing us to continue growing”.

Trophaeum is currently turning Albermarle Street in Mayfair, London, into a shopping destination, including exclusive restaurants and clubs. The plan for the asset in Via Mascagni is similar, as Farrell explained. “We’ll work together with the tenants as we already did in Albemarle Street so that the building can contribute in making the area appealing. We’re thinking to transform it into a luxury hotel”.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi