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| Light Building |
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| Location |
Milan, Italy |
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| Date acquired |
Acquired by MGPA Europe Fund III in June 2010 |
| Investment type |
Forward Purchase of an office building (June 2008) |
| Description |
The Light Building is a new Grade A office development, completed in June 2010. The building consists of approximately 18,000 sqm of leasable space over 11 floors of approximately 1,500 sqm each as well as 210 parking spaces. It is one of the highest buildings in its locality with views across the city and the mountains beyond.
The building has been designed to Grade A international standards with a highly efficient rectangular floor plate with an off-set lift core. Full air conditioning is provided through individually controllable fan coil units in the suspended ceiling, high quality finishes to bathrooms, lifts, reception and external landscaped area. The design incorporates photovoltaic cells, high levels of insulation and low energy lighting to reduce its energy requirements.
The building is situated in a highly accessible location near the city’s second ring road, in the immediate vicinity of a major trunk road leading to the city centre and two new stops on line 3 of the Metro. Its proximity to the city bypasses and to three motorways, including a link to Milan’s Malpensa airport, provides attractive options for occupiers. |
| Investment strategy |
Invest in a market which lacks supply of Grade A office space. Lease up the building and sell once fully let and stabilised. |
| Contact |
Sebastiano d’Avanzo
London, United Kingdom |
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