Symbiosis project presentation – Update

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Symbiosis project presentation – Update

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Symbiosis

From Ancient Greek συμβίωσις (sumbiōsis), “living together”

BS’s vision: unique proposal for the market through a mix of quality, innovation, history, culture and made in Italy

Being within an integrated business community

Urban regeneration

Integrated planning in a wider “Urban Project”

Innovative business pole, but complementary to

the existing ones

New development model, in full compliance

with the existing environment

A prototype for the city

The origination of something new

In a brand new location, from brownfield to

modern office hub

Italy is a centre of many excellences, and Symbiosis

will bet on this heritage developing a project focused

on entrepreneurship, business initiative and dynamism

Planting the seeds of something sizeable

THINK

POSITIVE OUTSIDE THE BOX

BIG

Symbiosis project presentation – Update

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Milan market

Investment activity focused on the very best product

Offices are the favorite asset, properties with good tenant

and well located can be transacted at attractive prices

Prime yields remain stable

Porta Romana / Ripamonti area

Catchment population of ~120,000 inhabitants

Occupier base:

77% residential

12% retail

5% offices

6% other

Major “Grade A” sites and business districts:

Prada HQ: 16,000sqm

Milanofiori Nord: 75,000sqm (only Grade A)

Centro Leoni: 52,000sqm

Sieroterapeutico: 100,000sqm

Preferred location for larger users (>4,000sqm)

Lease transactions have been limited in the last months

The area has momentum and is viewed favorably by the

broader market

Milan: net initial prime office yields1

1Source CBRE

3%

6%

9%

Q1 2

004

Q1 2

005

Q1 2

006

Q1 2

007

Q1 2

008

Q1 2

009

Q1 2

010

Q1 2

011

Q1 2

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Q1 2

013

Centre, Semicentre Periphery

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A famous past, and even bigger future

From an early 20th century vast industrial site to a creative district

Fresh, modern business environment

Development & leasing activity

Symbiosis will include office and commercial space that will cater to the needs of the tenants, providing a good

package of services and facilities

Reclamation works completed and permits obtained: ready to start with the construction works once an adequate level

of pre-let is reached

Flexible project: a set of ten different buildings, with the possibility to tune the construction schedule according to the

progress of the rental activity

Big and bespoke

BS’s in-house team will work with the tenant to develop a tailor-made product, focusing on space planning and fit-out

design

The design process will be implemented through the combined experience of BS and Antonio Citterio Patricia Viel and

Partners architecture firm

BS’s track record is on display at the Garibaldi Complex, where ~45,000sqm have just been successfully delivered

and meet all tenant requirements

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Reliability

Critical mass: more than 100,000sqm

Made in Italy product

Undersupplied area: lack of grade A

Centro Leoni fully leased

Milanofiori Nord fully leased

Sieroterapeutico (via Darwin) leased at 85%

No more supply in San Donato Milanese

Lorenteggio area still offers limited supply of Grade A

Appetite from potential tenants

Several companies are considering to move their headquarters

from the city center to more convenient areas

Rental rate is attractive for tenants who are considering opening

their offices in the Milan area

Customised solutions attract a growing percentage of tenants that

are looking for a place that fits with their business and culture,

not commodity space

Technology, sustainability and innovation combined with a good

balance between quality and costs are now driving the market

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Saving, inventiveness and speed

Reasonable and appropriate rental rates, thanks to a careful management of costs and smart solutions

Versatility: with a set of ten different buildings, it will be possible to accommodate businesses of all sizes

Each building is expected to be completed and delivered in just 20 months

Flexible enough to face the demands of businesses today and adaptable enough to meet the challenges of the future

Can-do approach

Working with tenants to understand their needs and establish long-term relationships

Environment

Green design, with a view: taking the best from worldwide experiences and applying it to Symbiosis

Energy class: A, allowing for reduced operating costs

Leed Core & Shell: Gold

Good neighbours

Open Your Art concept: bordering on the new museum of contemporary art developed by Prada, located in Largo

Isarco, scheduled for 2015 at the Expo and designed by Rem Koolhaas

Close to Bottega Veneta, Burberry, LVMH headquarters

Near IED and Bocconi University

Wide range of on-site amenities: restaurants, clubs, auditorium, kinder garden…

Potential tenants will move to find a brand new classy & cool environment

Ideal for International & Italian HQs and Large corporations

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119,000sqm GLA

~10 New buildings

Managed & developed by Beni Stabili group

~€270m Expected capex amount

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2007 Acquisition of the 1st

portion of Ripamonti area 2010 JV with Lagare, owner of the remainder portion of the area

2011-2012 Reclamation works

2013 Squeeze-out of Lagare,

BS owns and manages the whole project

2013 First stone of Prada’s museum of

contemporary art

Completion

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