Refinancing TDD

Major European bank

TFT was appointed to carry out Technical Due Diligence at the Centro Commerciale Metropolis as part of the refinancing deal on behalf of a major European commercial bank.

The busy Centro Commerciale Metropolis site was built in 1997 as a mall and piazza on two levels with an NLA of 25,000m2, 100 shops and 2000 parking spaces in a large basement parking area. The site incorporates a white goods store, supermarket and newly created food court. This busy regional centre was refurbished between 2012 and 2014 and now welcomes over 6 million visitors a year.

We were asked to advise the bank of any significant risks which might affect the built asset. A key part of the TDD work was a review of the M&E services of this air conditioned site.

A particular feature of this Calabrian location in the toe of Italy is its high seismic activity and part of the review was to assess the construction (which was designed to withstand seismic activity) and how, after 17 years, the frame, structure and movement joints were performing.