Strip out works begin at Maxima, sustainable office in Rome

01/06/2023

Real estate investor and fund manager Cromwell Property Group (Cromwell) is pleased to announce that it has started the strip-out works phase at Maxima, a proposed state-of-the-art office and retail asset in Rome with the highest ESG credentials, on behalf of Cromwell European REIT (CEREIT).

The final design phases will be concluded during the third quarter of 2023 with the obtaining of the last building permits. The strip out works are carried out by HTR Bonifiche, a local company specialized in environmental remediation and demolitions. During the strip out process at least 80% of the materials removed will be recycled and various materials re-used, demonstrating Cromwell’s commitment to a sustainable and environmentally friendly approach throughout the supply chain.

The proposed refurbishment is designed by Italian architect IT’S and includes a complete renovation of the six-storey building and the creation of contemporary, flexible office and retail spaces.  The asset will target certifications LEED Platinum and WELL Gold, with a key focus on sustainability and the occupiers’ well-being. The office spaces range from the above ground floors to the first basement whilst the retail spaces are located on the extensive ground floor. The building is also envisioned to offer external green-leisure spaces, bicycle facilities, 80+ parking spaces, EV charging stations, an auditorium area and an event space.

Maxima is strategically located on Via dell’Amba Aradam in the San Giovanni district, in the heart of the historical centre of Rome and in close proximity to the SS7 Via Appia motorway, as well as the Termini train station and several metro stations.

Lorenzo Caroleo, Head of Italy for Cromwell, commented: “The proposed redevelopment of Maxima demonstrates our long-term approach and strong commitment to the Italian market, which continues to experience strong occupier demand for high-quality, sustainable office space in well-located areas.”

“Having recently secured an anchor tenant for another Cromwell development, Nervesa21 in Milan, we are pleased to progress on our plans to redevelop also our Rome office asset into a grade A, LEED Platinum and WELL Gold certified property for which we expect a high demand from occupiers who desire to be located in the city center of Rome.”

Alessandro Cambi, Founder & Partner of IT’S, commented: “Being built on top of the remains of the II century A.D. Domus Faustae residence, Maxima incorporates all the historical layers of the city into one building, aiming to achieve the highest ESG standards to provide maximum comfort to the occupiers. The project contributes to the unique nature of Rome – a city always capable of re-inventing itself.”

CBRE and DILS have been appointed as commercial advisors to pre-market the proposed development.