Following the recent acquisition of Parcoval, Société de la Tour Eiffel (STE) is launching two new business park developments.
STE has acquired a two-hectare site adjacent to Le Bourget Airport in the ZAC du Commandant Rolland which will be developed speculatively in conjunction with Nexity Geprim to provide 10,000 m² of office and business space due for delivery in the first quarter of 2008. The investment amounts to €8.4 million. The estimated rental value is €920,000.
In Bordeaux, adjacent to Merignac Airport, STE is also launching on a speculative basis 6,000 m² of business space as an extension to its existing Cadera Nord park. Again Nexity Geprim are the developers whereas the investment amounts to €7.5 million.
The Parcoval acquisition, following on from that of Locafimo a year ago, results in STE being present in eight business parks throughout France situated in Lille, Orsay Université, Nantes and Lyon as well as in Strasbourg, Aix, Montpellier and Bordeaux. The total floor space is 310,000 m² with a potential for further development of some 70,000 m².
STE aims to actively pursue its business park activity either alone, or in partnership, to capitalize on the potential for the creation of value and recurrent revenues.