Quoted serviced office provider Regus has announced a joint venture with Pirelli’s property division to provide serviced offices in Italy.
Properties for the jv are to be sourced through Pirelli’s Milano Centrale estate agency network, Pirelli’s own portfolio and from other portfolios which it manages. Regus will operate the serviced office centres and Milano Centrale will provide property services.
Carlo Alessandro Puri Negri, chief executive of Milano Centrale, said: “The joint venture enables Regus to tap into our considerable property expertise and contacts to develop its coverage throughout Italy.”
Chris Boulton, development director of Regus, said: “Milano Centrale’s penetration of the Italian market will enable us to expand our network with a strong partner in a vital European territory.”
Regus was advised by NewInvest Corporation and Milano Centrale by Lazard Vitale Borghesi
Regus moved into the black last month with its first results as a quoted company. It saw pretax profits hit £4.9m for the three months ending September 2000 compared with a loss of £15.7m a year earlier.
