A joint venture between Paris-based developer Générale Continentale Investissements (GCI) and Benson Elliot, the London-based private equity real estate manager, has commenced works on a 22,300 m2 office redevelopment in the heart of La Défense in Paris.
Dubbed Latitude, the scheme will include 22,300 m2 of Grade A office space over eight floors. The building is scheduled to complete in Q2 2020, and was designed by Studios Architecture.
'The property has a unique design, and upon completion will deliver efficient, top quality office space, with the highest environmental credentials, into a sub-market seeing limited new supply,' said Rémi Monglon, principal and head of France at Benson Elliot.
'We are truly excited about this project and are confident that Latitude will make a significant contribution to the new, vibrant face of La Défense,' said GCI managing director Sharon Raingold.
La Défense is Europe’s largest business district and is currently home to over 500 companies.
The asset is targeting environmental certifications including HQE ‘Exceptionnel’, BREEAM ‘Excellent’, Effinergie+, Well Core and Shell ‘ready’, Wiredscore Platinum.
Bouygues Batiment Ile-de-France – Rénovation Privée has been engaged as general contractor and financing was secured from BNP Paribas and SCOR.
