Case Studies

Office building restructuring and leasing on behalf of a value add investors

Investment Type

Direct

Sector

Office

Acquisition Date

September 2017

Acquisition Value

Acquisition Summary

  • Acquisition in Q3 2017 of a 20,000 sqm (Ground floor and 6 upper floors), 50% vacant building and 443 parking spaces (3 levels basement)
  • Initial strategy:

  - Execute a major restructuring plan

  - Secure existing tenant base and lease the vacant space

 

Business Plan Summary

  • Execute a € 16 M Capex plan in 10 months :
  • Upgrade vacant areas, common space and equipment (asbestos removal, façade cleaning, garden refurbishment, fire prevention, carpets, painting, ceiling and lightning, lavatories, elevators and air conditioning system implementation)
  • Create new services (restaurant, fitness area, change rooms with showers)
  • Environmental aspects : obtain the BREEAM label for renovation works
  • Implement a marketing plan leveraging on the overall quality of the building and the works program :
  • Close to Paris and transport network
  • Located in the heart of Montrouge business activity (2,600 companies like Credit Agricole head office and Orange)
  • Unique outdoors areas with new and connected outside terraces
  • Direct access to public green areas

Past Performance is not a guide to the future. The value of an investment may go down as well as up and future returns are not guaranteed.