The ambitious €100m redevelopment of Capital 8, one of Paris's most recognisable office towers, has been completed by Invesco Real Estate, marking a significant milestone in the evolution of premium workspace design. The two-year transformation programme has successfully repositioned the 45,000 m² landmark building whilst maintaining occupancy levels that would make most developers envious.
Located in Paris's Central Business District near Parc Monceau, the building's transformation represents more than just aesthetic upgrades; it's a masterclass in risk management and tenant retention. Remarkably, approximately 60% of the space was released during the construction phase, demonstrating unprecedented confidence from both existing and new tenants. This achievement becomes even more impressive when considering the building remained fully operational throughout the redevelopment, housing 3,000 office workers on its 1-hectare site.
The redevelopment programme, led by Paris-based architecture firm Naud&Poux, focused on creating a hospitality-inspired environment that addresses the evolving needs of modern businesses. Key features include a light-flooded ground-floor lobby with comprehensive services including dining, concierge, mobility, fitness, and event facilities. A 1,500 m² green rooftop dedicated to urban agriculture and rooftop bar complements the existing 3,600 m² of outdoor green spaces and 2,000 m² of private terraces.
What sets this project apart for investors and developers is its innovative approach to ESG integration with measurable financial returns. The building is targeting an impressive array of certifications, including HQE Bâtiment Durable 2016 Certification at Excellent level, BREEAM Refurbishment and Fit-Out 2015 Certification at Excellent level, and multiple technology-focused certifications including WiredScore and SmartScore. This comprehensive certification strategy positions the asset to command premium rents whilst attracting ESG-conscious tenants who are increasingly driving market demand.
Ghislain Tézenas du Montcel, Senior Director, Investments for France and Belgium at Invesco Real Estate, commented: "The transformation of Capital 8 is a perfect example of how an iconic business centre can be enhanced and modernised to maintain its leading position in Paris's highly competitive market. The ambitious program was successfully carried out while the site remained occupied, with approximately 60% of the space released during the project to both existing and new tenants. We listened to tenants and their employees in order to create a building that meets their needs, helps them work more effectively, and contributes to an improved quality of life."
Toby Simon, Managing Director of Fund Management at Invesco Real Estate, added: "The active redevelopment and transformation of assets is central to our European strategy and how we look to lead the market in terms of technology-led sustainability and energy-efficient buildings. Our approach has consistently resulted in higher and better quality income from our assets which create long-term value for all stakeholders."
People mentioned:
- Ghislain Tézenas du Montcel, Senior Director, Investments - France and Belgium at Invesco Real Estate
- Toby Simon, Managing Director - Fund Management at Invesco Real Estate
Companies mentioned:
- Invesco Real Estate - Global real estate investment management firm, €84.4bn AUM
- Invesco Ltd. - Global independent investment management firm, $1.8 trillion AUM
- Naud&Poux - Paris-based architecture firm leading the redevelopment
