French property group Icade and Belgian developer Codic have announced the sale of the Start office project in the centre of St Quentin en Yvelines near Paris to an unnamed institutional investor. Financial details were not disclosed.
French property group Icade and Belgian developer Codic have announced the sale of the Start office project in the centre of St Quentin en Yvelines near Paris to an unnamed institutional investor. Financial details were not disclosed.
The scheme offers roughly 30,000 m2 of office space over eight floors and is planned for delivery in the first half of 2013. Formerly housing the headquarters of the Malakoff group, the asset was completely restructured in line with a project designed by architects Valode & Pistre and let in its entirety to consulting and engineering group Egis with a fixed nine-year rental contract. Start is aiming to receive BBC label as well as HQE/BREEAM certification.
The investment department of Jones Lang LaSalle completed the transaction. TSD Notaires acted for the vendor while Oudot & Associés advised the buyer.
