Portfolio property revitalisation and repositioning
“FBF_14” – Via Fatebenefratelli 14, Milan
The portfolio property is located in the centre of the Brera fashion and design district, which is only a few minutes’ walking distance from La Scala and the Cathedral. The building was completed in 1951 as a single-tenant property with a leasable area of around 3,000 m². Due to out-of-date office space and building services, the property was no longer marketable when the long-term tenant moved out. The revitalisation was aimed at updating building services and the building structure to permit highly flexible modern office layout design, and repositioning the property in the Milan real estate market.
Description of the work performed
The building was redesigned and extensively revitalised both architecturally and with respect to the building shell and interior space from 2016 to 2017:
- Demolish building to the bearing structure
- Redesign facade to satisfy the latest energy standards
- Create additional leasable space (attic floor, sky lobby)
- Expand leasable area by adding a penthouse level
- Modify to allow multiple tenants
- Design innovative, contemporary leasable areas
- Install modern energy-efficient building services (heating/cooling using heat pump technology, photovoltaics, energy-efficient LED lighting system)
- Create a new “prestigious look”, with a generous entrance hall and imposing lobby
- Develop a market positioning strategy
- Create a virtual marketing and leasing concept, including 3D panorama and virtual viewing
Results
Starting from a situation of complete vacancy, building “FBF 14” was successfully positioned in the Milan market and is fully leased to an Italian fashion company. “The Plan Award 2017” architectural award was received for revitalisation of the building and, in 2018, were awarded the LEED® Platinum certificate for existing buildings.
„FBF 14“ – Via Fatebenefratelli 14, Milan - Before
„FBF 14“ – Via Fatebenefratelli 14, Milan - After