Corio, represented by international real estate advisor Savills, has acquired Le Vele & Millennium, Cagliari, Sardinia, Italy from Schroder European Property Investments for €103.3 million.

Le Vele & Millennium Centre forms the dominant regional shopping centre destination for the Province of Cagliari.  It is anchored by leading brands such as Oviesse, Cisalfa, Tutto Chicco, Feltrinelli, Bata, Mcdonald’s, Co-Import, Warner Village, Joyvillage and Unieuro.  

The retail gallery comprises 13,936 sq m (150,010 sq ft) at ground level totalling 62 stores.  The entertainment centre, which opened in 2001, provides 17,980 sq m (193,541 sq ft) of trading space including retail, restaurants/cafè and a multiplex cinema.  Warner Village anchors the leisure element, comprising 8,668 sq m (93,304 sq ft) situated on the first floor, with Unieuro, JoyVillage / LuckyVille (Family Entertainment Centre) anchoring the ground floor element together with a further 13 retailers.  There are 3,200 car parking spaces.

William Gould, director of investment for Savills Italy, says: “These centres are by far the most dominant in the region and present Corio with excellent rental growth opportunities for the future.”

Cushman & Wakefield represented Schroder European Property Investments.