Building on the corner of the street
  • Paris
  • France
  • Office
  • April 2020
  • ESG

25 Rue de Clichy, Paris

A characterful, 19th century office building in the heart of Paris.

Interior of the bilding contain both antique and modern style

About the building

25 Rue de Clichy is a historical, 19th century office building in the heart of the tech cluster of Paris, near the central business district. The property was significantly renovated in 2012 and has its own underground car park with a very high parking space per square meter ratio as well as a private garden and auditorium, among many other unique selling points for single-tenant use. It also has excellent connections and is within a five-minute walk to Gare St Lazare providing access to the Paris Métro, RER and mainline rail connections, making it a well located and connected urban office building.

Investment rationale

25 Rue de Clichy is located in one of the most attractive investment markets in Europe, with a large number of high-tech companies in the immediate vicinity. At the time of acquisition in late 2017, the property was rented at rates well below the market level, with a short remaining lease term. The LaSalle E-REGI team believed that there was significant unrealized value in the building, and in early 2020, a new nine-year lease was signed with a top-quality tenant at a rate that reflected the asset’s true value. The tenant has commenced large refurbishments to develop highest-standard office space with state-of-the-art technology facilities.

Recognition

25 Rue de Clichy has been certified as “Excellent” by BREEAM due to its strong environmental credentials.

The corner of an old tenement house

25 Rue de Clichy, Paris is part of the LaSalle E-REGI portfolio

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Important information

The assets presented are meant for illustrative purposes only, are subject to change without notice and are not meant as a projection or estimate of the nature of any future investments to be made by the Fund or returns on any such investments. This information has been prepared by LaSalle in order to illustrate the type of assets held and/or transactions completed by the Fund; transactions for properties exhibiting the same or similar characteristics may not be available or profitable in the future.