News on 2 November 2000
Serviced office provider Regus plc and Milano Centrale,
Gruppo Pirelli & C., the real estate division of Pirelli, yesterday
launched a serviced office joint venture in Italy. The business centres
will be operated by Regus while Milano Centrale will provide real estate
services.
The properties will be sourced through Milano Centrale's estate agency
network, from the Pirelli portfolio of which Milano Centrale is property
manager and from other portfolios in which it has equity participation,
such as its joint ventures with American investment banks.
Commenting on the joint venture, Carlo Alessandro Puri Negri, CEO of Milano
Centrale said: "We at Milano Centrale are delighted to be in partnership
with a world leader in serviced offices. The joint venture enables Regus
to tap into our considerable property expertise and contacts to develop
its coverage throughout Italy. I look forward to working with Regus to
offer world class serviced offices in prime locations."
Chris Boulton, group corporate development director of Regus, continued:
"The joint venture comes at an excellent time for us. Milano Centrale's
penetration of the Italian market will enable us to expand our network
with a strong partner in a vital European territory."
60% of Milano Centrale’s property investment is in the commercial
sector, with the balance in residential/leisure/hotel. On the services
side it provides commercial and residential agency, project management,
and property and facilities management.
