Capital values in Italian commercial property suffered the steepest decline in its seven-year history, falling by -4.6%, according to the IPD Italy Annual Property Index. However, a robust 5.7% income return was sufficient to lift annual total returns modestly into positive territory at 80 basis points, compared to 2.3% in 2008.
Private real estate holding Global Holdings Group has acquired mixed-use asset 10 Great Pulteney Street from fashion retailer Boohoo.
