Viale Castello della Magliana, 68, Roma, 00148, IT

NeXt 68

Attributes

Building area net

322,917 sf

Occupancy

100%

Year built

1980

Land area gross

363,820 sf

WAULT

3 years

Asset description

The Opportunity comprises of a freehold interest in two office buildings, (Buildings A and B) and part of the shares in a separate building (Building C) through a condo ownership structure, with a total GLA of ~30,000 sqm.

Buildings A and B are situated on the same parcel of land and is offered free and clear.

Building A is an L-shaped building, with the longer portion comprising six floors of office, while the shorter portion at the bottom of the L-shape consists of three floors of office. The basement floor consists of a cafeteria, kitchen, and covered parking.
Building B is a three-floor quadrangular office building with a shared inner courtyard.
Both buildings share similar construction and finishing characteristics, with photovoltaic installations on the roof (peak power of ~70 kW).

Situated on an adjacent land plot, Building C1 / C2 has a condominium ownership structure.

C1 / C2 has a large rectangular base, consisting of a two-story podium from which there are two cross-shaped towers which rise five floors above.

...

Investment highlights

This is a unique opportunity to acquire a fully occupied corporate office campus consisting of ~30,000 sqm in Parco de' Medici, with the potential for near term redevelopment.

The asset is well connected with a train station only minutes away, and direct access onto the A91, which connects to the G.R.A. By car, it takes ~30 minutes to reach the city centre, and ~10 minutes to Fiumicino airport.

The transaction proposed is a sale-leaseback with Technip Energies Italy S.p.A., whom is the sole tenant, while they secure and develop a new campus. Technip is a multinational leading engineering and technology company, focused in the energy transition space.

In a surrounding node which has seen similar vacant offices trade to buyers with an opportunistic approach and plans for redevelopment, this opportunity provides investors with the flexibility to tailor their investment strategy.