Overview
An ultra-core real estate investment located in the heart of Paris “Central Business District” and the Avenue des Champs-Elysées which is known as one of the most popular retail destinations in the world. The property is a prestigious Haussmann-architecture corner building initially erected in the late 1880´s during the construction of the Avenue des Champs-Elysées.
The letting market in such an exclusive location as the Avenue des Champs-Elysées usually attracts very creditworthy tenants, seeking prestigious premises suitable for their headquarters. The strong demand for prime retail space and quality office buildings in Paris “Central Business District” combined with the limited supply facilitates significantly low vacancy rates.
Background
- Unique investment of a mixed-use trophy asset on the Champs-Elysées in Paris, a permanent location for both offices and retail.
- The investment seeks to offer capital preservation with an ultra-core risk profile however with great opportunity for value creation given the retail units are under-rented offering upside potential.
- The building is 100 % occupied and offers a stable income stream from diversified tenant profiles and sectors with a total of 9 tenants.
- Acquisition realised at advantageous pricing conditions during the outset of the Covid pandemic.
Key metrics
Location
71-73 avenue des Champs-Elysées, 75008 Paris, France
Investment strategy
Mixed-use Trophy Asset / Core Investment
Sector
Mixed-use (office & retail)
Gross leasable area
5,705 sqm
Acquisition date
Dec-20
Holding period
10 years
Tenants: Retail / Office
3 / 6
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