Retail property specialist Redevco has concluded the sale of the VIP office building in the French city of Lyon to Paris-based investor Fonciere Massena for a total of EUR 43 mln. Located in the Part Dieu district of Lyon the property was completed in 2001 and comprises 12,000 m[sup]2[/sup] of rental space and 227 basement parking spaces.
Retail property specialist Redevco has concluded the sale of the VIP office building in the French city of Lyon to Paris-based investor Fonciere Massena for a total of EUR 43 mln. Located in the Part Dieu district of Lyon the property was completed in 2001 and comprises 12,000 m2 of rental space and 227 basement parking spaces.
'The sale is completely in line with our strategy to streamline our portfolio, favouring major retail properties in prime locations in city centres,' said Jean-Christophe Bretxa, managing director of Redevco in France.
Redevco announced it has also inaugurated a mixed complex in Rue du Havre, Paris. The 1,300 m2 property includes a Jennyfer brand name store measuring 500 m2. Construction of three other projects is under way. The projects involve 3,500 m2 of retail space in Haguenau which is to open in September 2009; 15,000 m2 of retail space in Lyons to be opened in April 2010; and a 4,000 m2 scheme, with 2,000 m2 of retail space, scheduled to open in Paris's Rue de Rivoli in early autumn 2010.
Recently Redevco acquired the former offices of the Groupe Sud Ouest located in the heart of Bordeaux's historical centre, where it is planning to build a 25,000-m2 eco-community with 15,000 m2 of retail space. The company is further preparing to begin the construction of a 43,000-m2 retail park in Pontault-Combault which will include a very powerful solar power station.
Dutch-based Redevco is active in 21 countries, mainly in Europe but also in Asia. The company's portfolio consists of 800 properties with a total value of about EUR 7.7 bn.
