May 12, Icade has signed a promise of sale in order to acquire off plan a property complex of 20 000 m2 for an amount of 137 million euros (HD).
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This real estate complex, consisting of 16 000 m2 of office space and 4,000 m2 of shops, is located on avenue Gambetta in the 20th arrondissement of Paris. It benefits from proximity to transport (metro lines 3 & 3a) and an easy access from the boulevard périphérique in paris.
This will be the subject of a major restructuring, entrusted to the architectural firm of CALQ, it will benefit from the certifications HQE Excellent BREEAM Very Good and the BBC Effinergie Renovation.
The part Retail is already pre-leased (BEFA 12 years of age) for 3 300 m2. The final acquisition is expected to take place in the third quarter of 2017, subject to the lifting of suspensive conditions of use. The delivery is scheduled for early 2019.
Olivier Wigniolle, “this operation is located in an area with strong growth potential on the commercial market is part of the strategy of Icade to increase the value creation of the Land Tertiary through a rotation of assets dynamics and the increase in the pipeline of development”.
ABOUT ICADE
Real estate for all your future
Land developer and promoter, Icade is a real estate operator incorporated, which designs products and services in the real estate innovative to respond to new uses and new urban lifestyles. Placing CSR and innovation at the heart of its strategy, Icade is the closest of the stakeholders and users who make the city communities and local inhabitants, enterprises and employees, institutions and associations… Icade combines investment in commercial real estate, and health (heritage 31/12/16 : 9.7 Billion) to promotion (CA 2016 1 OO5 M) to reinvent the business of real estate and contribute to the emergence of the cities of tomorrow, green, smart, and responsible. Icade is a major player of Grand Paris and regional cities. Icade is a listed company (SIIC) on nyse Euronext Paris. Its reference shareholder is the Caisse des Dépôts Group.
The text of this press release is available on the website of Icade : www.icade.fr
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