Two contracts signed for the purchase of the 2nd and 3rd floors of Edificio 1 of the Bologna Business Park

• The first, definitive contract was signed  for the purchase of the second floor of the building which covers a gross lettable area (GLA) of 1,222 m² and is rented in its entirety to Hera S.p.A., on the basis of a long-term contract
• The purchase price for the second floor amounts to €3.730 million
• The second agreement for the purchase of the third and last floor of the complex was signed on a preliminary basis and is expected to close by 15 October 2011, once the fit-out works and decorating of the 824 m² GLA are completed
• The purchase price for the complex’s third floor amounts to €3.070 million, in addition to  decorating expenses
• Following these transactions the entireEdificio 1, which already houses the Group’s headquarters,  will be owned by IGD
• The building, with a total GLA of 4,030 m² is part of a modern and efficient business park where the headquarters of premier lending institutions are located

IGD – Immobiliare Grande Distribuzione SIIQ S.p.A., leading owner and manager of retail shopping centers in Italy and listed on the STAR segment of the Italian Stock Exchange, announces that it signed two different contracts for the purchase of two floors of Edificio 1 (Building 1) of the Bologna Business Park, which currently houses the Group’s headquarters, from the company Città Scambi, owned by the Galotti Group  and the Maccaferri Group.

More in detail, the first, definitive contract is for the purchase of the building’s second floor, which covers a gross lettable area (GLA) of 1,222 m² and is rented, in its entirety on the basis of a long-term contract, to the Hera Group, a multi-utility leader in environmental services and the distribution of water and energy. The purchase price for this acquisition amounts to €3.730 million, in addition to tax and accessory charges,  with a single  payment once the contract is finalized.

The second contract, signed on a preliminary basis, is for the purchase of the third and last floor of  the building which covers a GLA of 824 m². The purchase price amounts to €3.070 million, in addition to decorating expenses, with payment of €614 thousand upon stipulation of the agreement as a down payment. The remainder will be paid by the closing which is expected to take place by 15 October 2011, once the fit out works and decorating are completed.  This floor will be used, in part, by the IGD Group and rented, in part, to third parties.

Following the acquisition of the second and third floors of the complex, which will be added to the ground and first floors where the Group’s headquarters is already located, the IGD Group will own all the Bologna Business Park‘s Building 1,  found in via Trattati Comunitari Europei 1957-2007, n. 13.

The purpose of the investment is to enhance the utility of IGD’s headquarters by making new spaces available in order to host corporate events.

The complex has a GLA of 4,030 m², spread out over four floors, and is found inside a modern and efficient business park where the headquarters of premier lending institutions are located.

The Bologna Business Park, which covers a total area of 80,000 m²,  was founded on the concept that buildings and environment should blend perfectly. Inside a park of more than 35,000 m²  there are, in fact, 10 40,000 m² of office buildings. Each building has underground tenant parking and outdoor parking for visitors., as well as systems which guarantee security, privacy and peaceful surroundings. There is also a service center which offers restaurant and accessory services. Within walking distance visitors will also find a Holiday Inn and the Cosmopolitan Hotel, as well as the Meraville Retail Park with more than 40,000 m² of shops, restaurants, a Coop supermarket and a fitness center. The Bologna Business Park is strategically located near the Exit 9 of the ring road, just a few minutes from the motorway which connects Bologna to the rest of Italy.

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