French retail property developer Frey has won the competition for the redevelopment of the commercial district of Saint-Parres-aux-Tertres in Troyes, Central France. The project, located southeast of Paris, is a public private partnership (PPP), Frey said.
French retail property developer Frey has won the competition for the redevelopment of the commercial district of Saint-Parres-aux-Tertres in Troyes, Central France. The project, located southeast of Paris, is a public private partnership (PPP), Frey said.
The new project envisages the redevelopment of the existing commercial facilities in the Aire des Moissons commercial district of Saint-Parres-aux-Tertres, as well as the construction of a sustainable retail park with a gross lettable area of 30,000 m2.
Frey noted that it is 'the first time that a private development company has been awarded by French local authorities the redevelopment of an entire commercial district'. The company will carry out the development in partnership with IDM and OPB. The project, which is expected to create 300 direct jobs and 150 indirect ones, is due to open its doors by the end of 2012.
Frey plans to deliver around 75,000 m2 of commercial space to the French property market during the course of 2009. Earlier this year it announced the launch of the Moulins retail park development in Soissons, Northern France. Other projects include a 18,000 m2 retail park in the outskirts of Madrid, a shopping centre in Lille and the extension of the Cormontreuil retail park.
