Web Content Viewer (JSR 286)

22 Dec 2012

The Continassa area Project

Juventus will acquire a renewable long-term lease from the City of Turin, for a period of 99 years, on a portion of the Continassa Area

Juventus announced that the City of Turin Council has approved Partial Variation no. 277 to the P.R.G. (General Master Plan) in force and the redevelopment proposal for the Continassa Area, adjacent to the Juventus Stadium, and currently seriously run-down and abandoned.

Therefore, Juventus will acquire a renewable long-term lease from the City of Turin, for a period of 99 years, on a portion of the Continassa Area, equal to 180,000 square metres, and the related pavement area (SLP) totalling 33,000 square metres, to house the new Training and Media Centre for the First Team, tourism and hotel establishments, entertainment activities, private residences as well as businesses, restaurants and support services ("Juventus Area").

The price, as identified in the report by the expert assigned by the City of Turin, has been set at € 11.7 million, which assigns a value of about € 355 per square metre of SLP (totalling 33,000 square metres) and € 65 per square metre for the long-term lease (totalling 180,000 square metres).

An SLP of 5,000 square metres, owned by Juventus, shall also be transferred to the Juventus Area, for the construction of premises to house the new headquarters.