Share price at 09:35

FIP office portfolio

Spegazzini, Italy (1)

FIP portfolio
Italy - Offices

  • The FIP portfolio of 9 office buildings was acquired in an off market deal in December 2015.
  • All assets are fully let to the Italian state with 7 years WAULT.
  • 70% of portfolio is located in the key Italian cities of Milan, Florence and Rome.
  • The remainder of the portfolio is located in key regional cities with good liquidity from private investors.
  • The portfolio is characterised by assets where Italian government bodies have been in occupation for a long period of time and therefore represent core parts of their estate. Typically the assets are in strategic locations in the city with values underpinned by their long term re-development potential or suitability for alternative uses.
  • We anticipate selling some of the smaller properties over time and working up asset management plans to re-gear leases with reversionary potential in the larger properties and progress re-development plans, most notably for the Milan Valtellina site.
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Via F. Petrarca, Arezzo, Italy

Via F. Petrarca, Arezzo

Via Carcani, Rome, Italy

Via Carcani, Rome

Piazza Europe, La Spezia, Italy

Piazza Europe, La Spezia

Viale Belfiore, Florence, Italy

Viale Belfiore, Florence