Open to any bid

Teatro Comunale seeks foreign buyers

Editorial Staff
March 11, 2010

I don't see any problem. Within the next two years, we will sell the Teatro del Maggio until the new one is built,' said Matteo Renzi about Palazzo Vecchio's inability to find, so far, a buyer for the city theatre despite having been on auction twice.

 

When Florence's Teatro Comunale was put on auction last December, with a starting price of 44.5 million euro, no bid was placed. On March 2, when it was put on the block, this time for 35.6 million euro, the 23,000-square-meter facility again failed to find a prospective owner.

 

Because local investors showed no interest in the real estate, the city is now looking to foreign investors and venture capitals. The local administration will likely place the theatre in a real estate fund to better attract foreign investment. Palazzo Vecchio has approved a development project that would transform the theatre into luxury apartments, offices and private parking lots.

 

The Comunale will remain the home of the Maggio Musicale Fiorentino until 2012, when the new Auditorium-Parco della Musica in the Porta al Prato area is set to open. However, according to local media, Palazzo Vecchio wants to sell the theatre as soon as possible to secure the 42 million euro needed for the new facility.

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