Investment manager Redevco has acquired a high street retail property on the outskirts of Paris.
The 2,720 m2 property is a former cinema housing two retail units in Boulogne Billancourt, 8km from the city centre. Redevco said it had been acquired on behalf of one of its investor clients for an undisclosed price.
The commune of 120,000 inhabitants is the second most populous city in the Île-de-France region with good connections to the French capital.
Redevco CEO Andrew Vaughan said: 'With an average household income that is twice as much as the national average, Boulogne Billancourt enjoys a high purchasing power. This boosts retailer appetite in the area, with many national and international brands, predominantly fashion-focused, already opening stores on the boulevard.'
Redevco was advised by Etude du Quai Voltaire.
