Rue François 1er, Paris

This landmark office building is designed by Ricardo Bofill and was completely refurbished in 2011/2012 with an extension built consisting of 1,780 sq m of additional office and retail space. The building is located in the very prime Parisian Central Business District, close to the Champs Elysées and Avenue Montaigne.

The building was previously the Parisian headquarters of Rochas perfume.  After the existing tenant had vacated, the extension was built by converting underground parking spaces into retail space and technical rooms into office space.

This renovation scheme allowed for substantial growth of rental value and the retail space has been fully let to PSA Peugeot Citroen for their Paris DS World high-end showroom.

Investment Rationale 

 

  • Landmark office building acquired in 2002 in Paris’ prime Golden Triangle
  • Acquisition of a property that will always attract global demand both from occupiers and investors
  • Value-add strategy included increasing the amount of premium lettable area to generate rental growth