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: http://hugin.info/134201/R/1395771/352399.pdf
