COIMA SGR has purchased a retail building in Piazza XXV Aprile in Milan for €60m from Eataly Real Estate. The company has also signed a 21-year lease agreement with Eataly S.p.A. for the retail spaces of the building, which will see the popular gourmet shopping and dining concept continue to serve customers in Porta Nuova as part of the neighbourhood’s expanding retail and hospitality offering. The acquisition of the 5,000m² building has been made via COIMA CORE FUND I, a fund established in December 2011 which includes Enasarco and ENPAM among the investors. COIMA’s objective is to further strengthen the retail area managed in Porta Nuova, and create a portion of the city that will guarantee visitors an experiential offer built around brands with strong ESG credentials and brand ethics around issues such as the sustainability of products and shops, and the wellbeing of workers.
Manfredi Catella, Founder and CEO of COIMA SGR, said: “This investment will be transformational for Porta Nuova’s retail and hospitality offering, which will benefit from an increase in footfall from 10 million to over 15 million by 2025. By working with Eataly, a world-famous Italian company, we are staying true to Porta Nuova’s Italian roots, whilst at the same time creating a global attraction. With Eataly, we have found a partner with whom we share sustainability objectives throughout the entire production and distribution chain. Porta Nuova will increasingly become an exemplar model of neighbourhood management through the creation not only of a destination but of an active community with smart, tech-enabled benefits, in which residents, workers, visitors and tourists live, work and play.”
Luca Baffigo Filangieri, Eataly Real Estate Advisor, said: “Passing ownership of this building on to COIMA confirms Eataly Real Estate’s continued strategy with a view to redevelopment and relaunch. With this deal, the building where Eataly Milano is located fully becomes part of the innovative urban transformation of the neighbourhood of Porta Nuova which represents one of the most interesting areas in Milan.”
Modest four-bed 1950s house in one of the last undeveloped waterfront plots in millionaire’s playground Sandbanks goes on the market for £4m
A modest 1950s house is up for sale for a whopping £4million – because it is one of the last undeveloped waterfront plots in the exclusive enclave of Sandbanks.
The Breakers is a relatively unremarkable two-storey home from the front but it backs directly onto the award-winning Sandbanks Beach in Poole, Dorset.
The property has been used as a holiday home by the same family for more than 70 years but they have now decided to sell up.
The new owner will most likely demolish it so they have a blank canvas to create an ultra-modern mansion in keeping with most of the other properties on the sought-after peninsula.
Experts say a 5,000sq ft detached mansion could be built on the plot which would be worth £7.5million when complete.
The Breakers is a relatively unremarkable two-storey home from the front but it backs directly onto the award-winning Sandbanks Beach in Poole, Dorset
Experts say a 5,000sq ft detached mansion could be built on the plot which would be worth £7.5million when complete
To the back of the property is a stunning panoramic view of Poole Bay. It even has private direct access to the sandy beach from a gate at the bottom of the garden
In 2000, the area was named the fourth most expensive place to buy residential property in the world, behind Tokyo, Hong Kong and London
The Breakers has 1,295 sq ft over two floors with a dining room, lounge and kitchen downstairs and four bedrooms, although one is a box room, and a family bathroom
An image of the sitting room inside the modest 1950 property
The property is on Banks Road and sits in a long plot of land with trees shielding it from the road.
But to the back it has stunning panoramic views of Poole Bay. It even has private direct access to the sandy beach from a gate at the bottom of the garden.
Most of the waterside plots on the millionaire’s row have been redeveloped over the past 20 years making this sale a rare opportunity.
Sandbanks has been one of the most desirable places to live in the UK for more than 20 years and has attracted celebrities like Harry and Sandra Redknapp, TV football pundit Graeme Souness and interior designer Celia Sawyer.
The Breakers has 1,295 sq ft over two floors with a dining room, lounge and kitchen downstairs and four bedrooms, although one is a box room, and a family bathroom.
Robert Dunford, from estate agents Tailor Made, said: ‘There are so few plots left that you can literally step out directly onto the sandy beaches of Sandbanks.
‘The concealed location, set back form the road, offers owners privacy, whilst enjoying the beachfront location to the rear. The land is ultimately what someone is buying rather than the dated house that is located there.’
Then and now: The home was originally built in 1950 and has been used as a holiday home by the same family for more than 70 years but they have now decided to sell up
Another old image showing the property from a distance
Another view of the property in present day that backs directly onto the award-winning Sandbanks Beach in Poole, Dorset
An image of one of the four bedrooms in the two-storey home
Another image of one of the four bedrooms in the the £4m valued property
The Dorset property has access to the beach with stunning views
An image showing the kitchen of the 1950’s modest home
In 2000, the area was named the fourth most expensive place to buy residential property in the world, behind Tokyo, Hong Kong and London.
And that doesn’t seem to have slowed down in recent years. In March a 117-year-old waterfront chalet bungalow set a new record for the peninsula when it sold for £13.5million.
Dunford added: ‘The current home is simply not fit for purpose for modern day living, so I full expect to see an architectural masterpiece in its place, in the years ahead.
‘We are in such a fortunate position as agents to be able to offer for sale this detached home and experience the journey the buyer takes in making it their dream home.
‘We have already received offers, ahead of the best bids by date set, and we therefore expect this to be sold imminently.’
The Benefits Screenwriters Will Enjoy After The Strike Include Juicy Bonuses, Better Salaries & Limits On AI
From the first minute of this Wednesday, the screenwriters’ strike will become part of Hollywood history. The leaders of the screenwriters’ union, the Writers Guild of America (WGA), have ratified the agreement reached with the studios on Sunday. On Tuesday afternoon, WGA leaders endorsed the final text of the contract, putting an end to the 148 days in which the scriptwriters turned off their computers, and brought the entertainment industry to a halt.
The agreement has an estimated value of $233 million a year, a much higher figure than the $83 million that executives put on the table in the first round of negotiations. Hollywood, however, is still a couple of weeks away from returning to normal. Actors are still on strike.
The 11,500 members of the WGA will vote between October 2 and 9 on the collective contract that is on the table. The WGA’s negotiating committee made it clear it was pleased with the deal struck on Sunday, describing it as “exceptional.” Following the tentative agreement, the leaders of the organization began to explain the benefits contained in the new 94-page text, which will be in force for three years.
The deal will 5% increase writers’ basic pay in the first year of the contract’s term, 4% in the second year and 3.5% in the third. It also includes bonuses for hit shows online, and restricts the use of artificial intelligence. Now that WGA leaders have voted to recommend the tentative agreement, writers will be able to return to work, starting Wednesday.
Talk show writers are expected to be the first to return, as they were the first to walk off the job when the strike was called. These shows are set to go back on air in the first days of October.
As the scriptwriters requested, the new collective contract will offer protections against the emergence of AI in the industry. Under the deal, the tool cannot be used to write a script or rewrite a new version of one, not can it be credited as a writer instead of a human. Studios will not be able to force a screenwriter to use an AI program, such as ChatGPT, to assist with a script. The WGA will have the final say, on behalf of its members, on whether or not to allow creative materials to be used to train or develop artificial intelligence software.
The studios also agreed to a new model for residuals, the payment that is given to members of a production when a program is broadcast in a new market or platform. Under the new system, the bigger the viewership, the more a screenwriter will be paid.
This was one of the points that had stalled negotiations for weeks, as studios were adamant about not revealing audience numbers. In the new text, however, the studios will share with the union, through a confidentiality agreement, the total number of hours a title was streamed both domestically and internationally.
The new contract promises to compensate, from January 1, 2021, the screenwriters for a high-budget title that is considered a success. This is defined as any title that is viewed by 20% of domestic subscribers to a streaming service, such as Prime or Netflix, in the first 90 days of release.
Screenwriters will receive residual bonuses for series and films that meet this threshold. The bonus will be calculated with a formula that takes into account a production’s budget, the length of the series or film and the number of views. This means, for example, that writers of a widely watched TV series will pocket about $9,000 for a half-hour episode and $14,600 for an hour-long episode. For a feature film that has cost more than $30 million to produce, screenwriters can expect a bonus of $40,500.
Under the new contract, studios must also hire a minimum number of writers to develop treatments for a TV season. At least three writers will be needed for a six-episode show, while six is the minimum for a 13-episode show. Three of these writers may have the position of writer and producer.
The wins achieved by the WGA have raised the hopes of actors on strike. Currently, no negotiations are being held between the actors union SAG-AFTRA and the Alliance of Motion Picture and Television Producers (AMPTP), which represents Paramount, Sony, Universal, Walt Disney, Warner Bros., the major TV networks and streaming companies such as Netflix and Apple TV, among others.
Actors continue to picket outside Hollywood studios. The WGA has not called any demonstrations since Sunday, but the group’s leadership is allowing writers to show solidarity with their colleagues on the picket line.
On Tuesday, the creator of the TV show Mad Men, writer Matthew Weiner, accompanied his friend, actor Noah Wyle, at one of the protests. “We would never have had the leverage we had if SAG had not gone out,” Weiner told AP. “They were very brave to do it.”
The threat promises to extend the wave of strikes that the United States has been experiencing. The video game companies under fire are Activision, Electronic Arts, Epic Games, Take 2, as well as the corresponding divisions of Disney and Warner Bros.
“It’s time for the video game companies to stop playing games and get serious about reaching an agreement on this contract” SAG-AFTRA President Fran Drescher said in a statement. The studios must sit down at the negotiating table if Hollywood wants to see the light at the end of the tunnel.
This Friday Is Going To Be The Busiest Day Of This Year For Moving House
Myra Butterworth paid more to move home on a Friday
Back in 2006, I was selling my third property and buying my fourth.
I knew the golden rule of not moving on a Friday.
Not only it is more expensive as it is such a popular day to move house and removal men are in high demand, but if anything goes wrong, you have less time to sort things out.
If things go wrong, you have to patiently wait for the weekend to pass and solicitors to return to their office on the Monday.
However, I still ended up trying to move on a Friday in December.
As well as starting a new job that week, I needed the weekend to settle in and it was December. Surely in the depths of winter, just before Christmas, fewer people would be moving and I could get away with moving on a Friday.
So I agreed to the long chain moving on that Friday, in the hope of getting the deal done.
However, what I forgot to factor in was Christmas parties, something my seller’s solicitor conveniently didn’t mention.
Indeed, that very morning on moving day, our solicitors and estate agents were all talking to one another, suggesting everything was on track to complete contracts and move house. My large removal van turned up to my home and the removal men started loading it up.
It was during this process, around lunchtime, that things started to go extremely quiet. I soon learnt that my vendor’s solicitor had left the office for the afternoon. Apparently, to go to his office Christmas party, I was told.
It meant that he could not confirm whether he had received my money, which was being transferred to the vendor.
At this point my vendor’s estate agent started negotiating with me so I could at least unload my removal van at what was going to be my new home.
They audaciously offered a one-hour slot to unload as much as I could, to store my items in my vendor’s property over the weekend.
This offer would cost me something to the tune of £1,500 (remember this was in 2006, which taking into account inflation is more like £2,500 today).
It also meant I had to deal with my buyer’s removal men who were just turning up to my property.
A deal was done and contracts were completed on the Monday. I hope my buyer’s solicitor didn’t have too much of a hangover during the weekend.