AFFINE RE
Paris, 08 July 2015, 6:00 pm
Affine signs for an office building at Porte de Clichy
Affine has signed a commitment to sell so that it can buy off-plan a 1,535 sqm office building in Clichy-la-Garenne from the property developer Préférence Home for the sum of €8m (including transfer taxes).
The building is situated at the 'Entrée en ville' ('town entrance') ZAC (integrated development zone) at the exit of the area's ring road and is part of the Clichy-Batignolles district, a new major hub to the west of Paris.
Spread over 54 hectares, the district offers 330,000 sqm of building space, of which 120,000 sqm are for the new Parisian courthouse and the regional headquarters of the police judiciaire (criminal investigation department).
The 'Entrée en ville' ZAC is a natural extension of the development of the area between Paris and Clichy and asserts itself as the new business district for the neighbourhood, given the strong demand for rental property there. Big groups such as L'Oréal, Danone, Amazon, Holiday Inn, Nokia, SNCF and Piaggio have already set up there. This project, which began in 2002, is expected to create 54,000 sqm of housing and 82,000 sqm of offices, which complement the Parisian part of the area. The site is very well served by public transport: the Porte de Clichy station is on the RER C line and metro lines 13 and 14 and the mainline train station, Clichy-Levallois, is nearby. The ring road and the A1, A13 and A14 motorways are also immediately accessible.
This 7-storey building (-1 to +5), which will be the recipient of a BREEAM label, will be characterised by a 'green' façade, screened by planter boxes around the perimeter of each storey and with a grassed over rooftop terrace. The building is currently on the market and will be delivered in the second quarter of 2016.
This transaction is in line with Affine's investment strategy, intended to balance development between the greater
Paris area and France's large regional cities.
In this transaction, BNP Paribas Real Estate acted as consultant for the seller under an exclusive mandate. The notaries representing the seller and the buyer are, respectively, Rochelois-Besins et Associés and Mr Casteran.
ABOUTAFFINEGROUP
Affine is a real estate company specialised in commercial property. At the end of December 2014, it directly owned 57 buildings with a total value of €575m (excluding taxes), for a total floor area of 534,400 sqm. The firm owns office properties (53%), retail properties (22%) and warehouses and industrial premises (26%). Its activity is distributed more or less equally between Ile-de France and the other French regions.
Affine is also the major shareholder (49.5%) of Banimmo, a Belgian property repositioning company with operations in Belgium and France. At the end of December 2014, Banimmo had total assets of 20 office and commercial buildings, with a value of €335m (taxes included).
Total Group assets are €945m (including transfer taxes).
In 2003, Affine opted for French real estate investment trust (SIIC) status. The Affine share is listed on NYSE Euronext Paris (Ticker: IML FP/BTTP.PA; ISIN code: FR0000036105) and admitted to the deferred settlement system (long only). It is included in the CAC Mid&Small, SIIC IEIF and EPRA indexes. Banimmo is also listed on NYSE Euronext.
To find out more:www.affine.fr.Follow our news thread on: https://twitter.com/Groupe_Affine
CONTACT
INVESTORRELATIONS
Frank Lutz
+33 (0)1 44 90 43 53 -frank.lutz@affine.fr
PRESSRELATIONS
RPpublics - Alexandra Richert
+33 (0)1 45 23 55 01 -alexandra.richert@rppublics.com
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