Italy
Active centre management and letting management enabled Corio Italia to improve occupancy rates further to 98.9% in the year under review and to achieve 13.4% higher rents on contracts that were extended or renewed in 2008 (18.5% of total gross rental income).
September
Corio Italia receives the IPD EuroPropertyAward for its excellent performance in relation to the IPD benchmark. On a three-yearly basis, Corio Italia achieved the highest total revenues.
December
Acquisition of the IKEA store adjacent to the Le Gru shopping centre in Turin, with a gross lettable floor area of 14,500 m2. IKEA is planning to relocate to Collegno because the present store, opposite Le Gru, is too small for its concept. Until that happens, probably in mid-2009, IKEA will lease back its existing store. It will subsequently be redeveloped and let to new tenants in order to further strengthen the position of Le Gru.
Source: Annual Report 2008, Chapter Review of operations, page 87 (PDF, 2,1 MB)
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