Edizione Property, a wholly-owned subsidiary of the Benetton Group, has purchased the Fontego dei Tedeschi historic building on Venice's Canal Grande for EUR 53mln. The 10,000 m[sup]2[/sup] asset was sold at an auction for a starting price of EUR 51mln. The seller and major tenant in the scheme is Le Poste, the Italian postal services group. The building, which dates back to the 16th century, will house a large retail store and other commercial activities, with the remaining space (250 m2) being retained by Le Poste.
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