INTESA SANPAOLO AND HINES ANNOUNCE A LEASE AGREEMENT AT THE UNIONE 0 AREA AT MILANOSESTO
MilanoSesto is the biggest urban regeneration project in Italy and one of the largest developments in Europe
(MILAN) – Hines, the global real estate firm, and Intesa Sanpaolo, a leading Italian banking group, have agreed on preliminary terms for a more than 15-year lease at the planned state-of-the-art office tower at Unione 0 at MilanoSesto, one of Europe’s largest urban regeneration projects.
The “Unione 0” real estate fund, managed by Prelios SGR and invested in by Hines and Cale Street, has entered into a preliminary lease contract with Instesa Sanpaolo on the Unione 0 private lot at MilanoSesto. Hines is also a strategic advisor and development manager of the entire MilanoSesto 13-year project. The Prelios Group acts as manager of the “Unione 0” real estate fund and asset and project manager of the overall initiative.
Currently, construction continues on the Unione 0 private lot section at MilanoSesto, which spans 250,000 square metres, bordering the former Falck area railway station. Excavation work for the office tower will start in August 2022 with construction set to begin by the end of 2022. The buildings include a hotel (301 rooms), office space covering 48,000 square metres, student accommodation catering for approximately 700 people, affordable housing units (285 apartments), and free-market residential units (480 apartments). The area will also feature an initial 13-hectare section of the 45-hectare park designed by international architecture firm LAND.
In a strategic position close to the M1 subway and the new Sesto San Giovanni station, the office tower will cover 29,000 square metres with 17 floors above ground and 3 basement levels alongside 1,600 square metres of usable green terraces.
The new office building, designed by ACPV ARCHITECTS Antonio Citterio Patricia Viel, will be handed over to Intesa Sanpaolo by the end of 2025. Its design prioritizes new approaches to office working and ESG, aiming to obtain the highest level of certifications such as LEED Platinum, the green building certification protocol, and WELL Gold, which is the first international system that certifies buildings for personal comfort of its occupiers. In addition, it will aim to be classified in accordance with the LEED for Neighborhood Development (LEED ND) protocol, which is devoted to new urban development and regeneration projects.
The building, designed according to the WiredScore standards, the world’s only certification for pioneering digital infrastructure and connectivity, will accommodate approximately 2,000 people. It will comprise individual offices, open plan spaces, and a wide range of services including a gym, a bar, and an events area . The criteria guiding the design of the new building reflect the ESG values characterising MilanoSesto as a whole.
Luca Tedesi, Head of Real Estate and Logistics, Intesa Sanpaolo, commented: “A key factor for relaunching a location for growth lies in making investments in sustainable infrastructure, particularly with regards to works focusing on urban and suburban regeneration. Intesa Sanpaolo has become an international benchmark due to its continued commitment in funding sustainable infrastructure in Italy. MilanoSesto is the ultimate example, which will become a reference in Europe for its innovation and social and environmental sustainability approach.”
“To attract Intesa Sanpaolo to MilanoSesto while it’s under construction is testament to the power and potential of this fantastic project. We are creating a new thriving area in Milan which is estimated to attract 50,000 daily visitors while committing to the highest standards of ESG and innovation. We are confident our vision will continue to appeal to major partners who understand the importance of this project in one of the most dynamic urban regeneration areas across Europe,” declared Mario Abbadessa, senior managing director & country head at Hines Italy.
“This important contract with Intesa Sanpaolo demonstrates how the country’s largest financial institution has taken this local development to its heart. This area has remained inaccessible for twenty years so it’s great to bring this area back to life for the benefit of everyone in Milan. Large urban regeneration projects like MilanoSesto are particularly stimulating, and help us to attract the best talent, further consolidating our growth path at the Prelios Group. It is a great honour for us to work alongside Intesa Sanpaolo and Hines in this thrilling adventure,” commented Luigi Aiello, General Manager Corporate and Business Development of the Prelios Group.
Last updated 1 April 2022 at 20:22