Kering Luxury Brand Bottega Veneta Leases Central Milan Palace

Kering Luxury Brand Bottega Veneta Leases Central Milan Palace

A model displays a creation from the Bottega Veneta Spring/Summer 2018 show at the Milan Fashion Week in Milan, Italy, September 23, 2017. (Reuters)

Bottega Veneta has rented a historic palace in the center of Milan that will house the new offices of the brand owned by luxury goods group Kering, real estate asset management company COIMA SGR said.

Milan attracts the bulk of office investments in Italy but prospects for the sector are uncertain as companies reassess working policies in the aftermath of the COVID-19 pandemic.

Bottega Veneta has signed a 12-year contract to lease 10,000 square meters in the 19th-century Palazzo San Fedele, located between the city's Duomo cathedral and La Scala opera theater.

COIMA SGR purchased Palazzo San Fedele on behalf of the Qatar Investment Authority's Italian Property Fund.

Renovation works will start at the end of April.