Regulatory News:
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211207005964/en/
Washington Plaza, Paris 8 (Photo: Business Wire)
SFL (Paris:FLY), the leader in the prime segment of the Parisian commercial real estate market, announces that it has re-let 10,000 sq.m. of space in the Washington Plaza complex, which is now fully occupied. This performance highlights the continued appeal of central business districts and office properties offering the most cutting-edge amenities, innovative ways of working and desirable location.
To date, leases have been signed on almost a quarter 10,000 sq.m. of the Washington Plaza complex, a 48,000 sq.m. art deco flagship building in the centre of Paris' 8th arrondissement. This coincides with the completion of major renovation work at the property aimed in particular at modernising floor plates and developing amenities such as a 100-seater auditorium, a café, a restaurant, wellness areas and parking for 400 bikes. The property's business centre is rated "Very Good" under the BREEAM In-Use environmental certification scheme for both Part 1 "Asset Performance" and Part 2 "Building Management".
Several tenants, such as the European subsidiary of leading global brokerage firm TP ICAP, and financial market software specialist Finastra, have extended their lease or let additional floor space, demonstrating the satisfaction of existing users. Meanwhile, SFL has also signed leases with new tenants management consultancy Advancy, global logistics real estate firm Prologis, and food supplements specialist Havea Group all of which are leaders in their respective industries. The property is home to 23 first-rate tenants, including Mylan Medical, Indeed, Lavinia and Candriam France, taking up a record 100% of available space. The most recent leases were signed for a rent of around €800/sq.m., bringing five-year growth in average office rent at the property to 15%.
About SFL
Leader in the prime segment of the Parisian commercial real estate market, Société Foncière Lyonnaise stands out for the quality of its property portfolio, which is valued at €7.3 billion and is focused on the Central Business District of Paris (cloud.paris, Edouard VII, Washington Plaza, etc.) and for the quality of its client portfolio, which is composed of prestigious companies in the consulting, media, digital, luxury, finance and insurance sectors. As France's oldest property company, SFL demonstrates year after year an unwavering commitment to its strategy focused on creating a high value in use for users and, ultimately, substantial appraisal values for its properties.
Stock market: Euronext Paris Compartment A Euronext Paris ISIN FR0000033409 Bloomberg: FLY FP Reuters: FLYP PA
S&P rating: BBB+ stable outlook
View source version on businesswire.com: https://www.businesswire.com/news/home/20211207005964/en/
Contacts:
SFL Thomas Fareng T +33 (0)1 42 97 27 00 t.fareng@fonciere-lyonnaise.com
Evidence Grégoire Silly T +33 (0)6 99 10 78 99 gregoire.silly@evidenceparis.fr
www.fonciere-lyonnaise.com
