Société Foncière Lyonnaise (SFL) and Prédica have received the Building of the Year Award in the renovated building category at the SIMI business property show in Paris. A jury of twelve property managers from major French corporations recognized SFL and Prédica for the Cézanne Saint-Honoré complex, located at 1-6 Rue Paul Cézanne in Paris´ 8th arrondissement.
The prize rewards SFL´s industrial and strategic decisions, notably its:
- win-win partnership with Prédica. This relationship was recently strenghtened by Prédica´s decision to acquire a 9.9% interest in SFL;
- ability to leverage in-depth expertise in its core business to renovate a prestigious office complex for lease;
- marketing efficiency. Already in June 2004, some 15,000 m² had been leased to the Freshfields Brukhaus Deringer legal firm.
SFL selected Braun & Associés to restructure the street and buildings for this upscale complex and Cabinet Grenot to handle the interior architecture.
Crédit Agricole Immobilier and SFL subsidiary Locaparis managed the project, which has transformed some 30,000 m² in Rue Paul Cézanne into a very select services complex. The renovation work cost around € 57 million, for a total investment of € 175 million.
The project will be completed in the first quarter of 2005. So far, 15,000 m² of prime office space have been leased, leaving 10,000 m² available.
Source: SFL
