Milan | OFFICE 2018 Q2

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Take-up of office space in the first half of 2018 amounted to approximately 200,000 sqm, only 3% less than the same period of 2017. This confirms, for the second consecutive year, a volume of nearly double that of the years 2012 to 2016 (in which the average volume was about 130,000 sqm). Compared to last year, the number of transactions is up significantly, amounting to 137, while the average area transacted is down (from 1,700 sqm to approximately 1,500 sqm).
Stock is essentially constant compared to the prior quarter, while the office modernisation process continues. In fact, approximately 20,000 sqm of offices were delivered during the quarter, following a major refurbishment project, of which 60% in central zones.
The most significant property is in Piazza Cordusio, historic headquarters of the Stock Exchange and then of the Post and Telegraph Offices, which was completely gutted and refurbished to create new offices for a total of approximately 6,660 sqm. The retail portion of around 2,400 sqm has already been let to the popular US brand Starbucks, set to open its biggest shop in Europe, with an offer adapted to the Italian market.
In the immediate proximity of the Turati underground station and near the Indro Montanelli Public Gardens, the building at Via Principe Amedeo 5 was delivered, with a total area of about 7,000 sqm, achieving Leed Gold classification and energy rating “A”. The portion that was still available was also let during the quarter, with a pre-let contract to a company offering coworking space.


COLLIERS  UFFICI MILANO 2018 Q2 UK

Milan | OFFICE 2018 Q2

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