Lendlease Renaissance I
Alternative Investment Fund reserved to professional investors co-invested by Lendlease and one of its institutional investment partners, established in June 2021 with a develop to core strategy.
Renaissance I area is located at the west end of the MIND (Milan Innovation District) precinct, leveraging the existing transport hub (high speed regional rail and metro) and the presence of some "public anchors": the Galeazzi Hospital (target opening by 2022), the already active Human Technopole (international excellence research centre for life science and genomics) and the University of Milan that will transfer some scientific department in 2025. The Renaissance I area comprises 11 plots with different destination of use (offices, retail, hotels, residential and ancillary destinations) and a total GLA of ca. 164,000 sqm.
For more information related to the wider project, click here.
End value of circa 800 million euros.
Investment strategy/AmbitionsDevelop to core strategy long term ownership of diverse assets , including:
- Premium grade office buildings
- Apartments for rent
- Retail units will act as a placemaking asset, supporting users of both the private and public developments
Development of first phase of a wider project that will be entirely concluded over the next 10 years.
Leverages Lendlease’s integrated end-to-end business model, providing asset management, development, construction and project management expertise to secure quality, environmentally sustainable assets in the Italian market.
Milan Innovation District
The Milan Innovation District aims to be a major new precinct for science, knowledge, and innovation.
Located on the former Expo site in Milan, Italy, the project is a multi-phased, mixed-use redevelopment featuring office, residential, retail, and public realm. The 100 hectare site is located to the northwest of the Milan CBD and already benefits from excellent transport links and infrastructure. 100 hectare mixed use redevelopment including:
– 304,000sqm office space
– 1,125 apartments (100% for rent) – 33,000sqm retail
Responsible Property InvestmentLendlease Renaissance I is aligned to the wider Lendlease Group responsible property investment objectives as well as its sustainability aspirations therefore is coordinated with Lendlease’s key sustainability objectives.
The project considers factors such as energy efficiency, the use of water resources, the impact of new buildings on the existing surroundings, the efficiency of technological instruments and the presence of green spaces and pedestrian areas. The project will also work in partnership to enable the inclusion on the project of individuals who have previously been imprisoned through training and job opportunities as part of the Program 2121 in partnership with the Italian Department for Justice.
Expected first submission in 2022
All buildings targeting minimum LEED Gold (LEED platinum for offices and laboratories) and WELL