Savills creates sale-and-leaseback team in Paris

Savills Paris has created a dedicated 'sale-and-leaseback' team within its investment department in order to respond to the financial needs of its corporate clients. The team will be led by Boris Cappelle in the Paris office.

The international property adviser said the creation of the team was timely in order to assist clients benefit from a French fiscal advantage, which has been extended for a year. This means that the capital gain generated from the sale of a property can be taxed at a lower rate (approximately 19% instead of around 33%) if the asset is sold to specific vehicles (French REIT and AMF regulated vehicles such as SCPI or OPCI).

This fiscal advantage, combined with the necessity for a large number of companies to free up capital at the lowest possible cost, will create an increased need for guidance from the new sale-and-leaseback team, Savills said.

Cappelle said: "With a complete understanding of French financial law and its impact on commercial property transactions, the new sale-and-leaseback team will be able to provide crucial expert advice for our corporate clients.'

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