CBRE Global Investors has sold the company Galleria Commerciale Siracusa S.R.L in Sicily and in doing so completed the disposal strategy for its Southern European retail fund CBRE Retail Property Partnership Southern Europe (RPPSE).
The shopping centre comprises a GLA of ca. 25,000 sqm and 50 units. The buyer of the company is CDS Holding S.p.A., a company operating since 1993 in the development, design and construction, as general contractor, of retail, logistics assets and hotels.
Opened in 2005, the asset, known as “I Papiri” is located in Siracusa, visible from Ortigia, 5 minutes drive from the city center. The shopping centre has two floors as well as a hypermarket.
Enzo Danesi, Chairman of CDS Holding S.p.A. said: “CDS started a new phase of strategic growth: after the opening last year of Adigeo in Verona, estimated to reach 8 million visitors in one year time; the next opening of Aura, next April 20, in the center of Rome (in front of the Valle Aurelia underground station), we are committed to the real estate and commercial relaunch of this center, which counts several strategic strengths to become the reference shopping center for Siracusa and its province.”
He continued: “We will heavily invest in an internal and external architectural refurbishment and we will work on an important expansion, bringing in the best of the national and international commercial offer. In the meantime, we continue to work on a relevant development pipeline for the next few years, maintaining our leadership in the retail sector and also consolidating our attention to the logistics and hotel sectors.”
Source : Company