Settimo Cielo Retail Park is situated in Settimo Torinese(Italy), a municipality in the outskirts of Turin, ideal crossroads of important highways such as A4 (Turin-Milan), and A5 (Turin-Aosta). Easily accessible from the whole metropolitan area of Turin, as well as from all the entire north-eastern area of the Province of Turin. Its catchment area includes more than 1.2 million inhabitants within a distance of 30 minutes with a number of 8 million of annual visitors. The Park, in its actual configuration, consist of five commercial buildings witha total of 42.000 sqm GLAfully let, according to the contemporary trends, in a welcoming and rational context.
The first three buildings of the Park opened in December 2011 A additional building opened in April 2012 and a fifth one, hosting two restaurants, was opened in autumn 2013. Each building is dedicated to specific merchandise categories; the strengths of the Park and the high quality of the mainand highly attractive brands (family, leisure, clothing and home, food&beverage), offer the best prospects for business. Four of the five commercial buildings were transferred to an international institutional fund during 2015. The fifth building was transferred in 2012, to two Italian companies that still own the property. A new enlargement sponsored by Settimo Sviluppo S.p.A soon will be realized adjacent to the existing Park.
It will host an Hypermarket and a Shopping Center for a total of additional 28.000 sqm GLA and 16.500 sqm of selling surfaces. The project is fully authorized Construction works will begin in September 2016 Expected opening Spring 2018 Stabilized rents will be in a range of € 5,5 mln/year
The combination of existing assets and the new enlargement will create one of the largest Retail Parks of Turin, with a total of: 7 commercial buildings 70.000 sqm GLA 47.500 sqm of selling surfaces 4.500 parking spaces