Corio acquires shopping centre Le Vele in Italy

Corio acquired 'Le Vele shopping gallery and Millennium Entertainment centre' (hereafter Le Vele) in Cagliari on Sardinia for ? 103.3 m at a net yield of 7.0%. The total shopping centre comprises 44,400 m2 Gross Leasable Area (GLA) and 3,200 parking units. With this acquisition Corio acquired 31,900 m2 of the total GLA. The remainder is owned by Carrefour. The acquisition will contribute to Corio's direct result as of 19 March 2010. The acquisition of Le Vele fits in with Corio's strategy, which focuses on shopping centre dominance in the catchment area, good visibility and accessibility from surrounding principal routes and steady financial performance. [HUG#1395771] Press release: