SFL: A Luxury Hotel in 247-251 Saint-Honore

09/02/2007 - 11:06

The property at 247-251 rue Saint Honore, which currently
comprises 22,000 square meters of office and retail space, is being
converted into a luxury hotel with 150 rooms and suites scheduled for
delivery at the end of 2010. Ideally located in the first
arrondissement, between Place Vendome and the Tuileries gardens, the
building will become the first Mandarin Oriental hotel in Paris, under
an agreement that provides for the signature of a 12-year renewable
lease once the necessary permits have been obtained. The architect for
the building is Jean-Michel Wilmotte

SFL was advised by Cities Consultants and Ashurst. Mandarin
Oriental was advised by Linklaters.

With an exceptional portfolio of properties valued at more than
EUR 3.3 billion net of transfer costs, essentially located in the
Paris Central Business District, SFL (Paris:FLY) is a preferred
vehicle for investors wishing to invest in the Paris office and retail
property market. As the leading player in this market, the Group is
firmly focused on pro-actively managing high-quality property assets.
SFL has elected to be taxed as an SIIC since 2003.

STOCK MARKET : Eurolist Compartiment A - Euronext Paris ISIN
FR0000033409 - Bloomberg : FLY FP - Reuters : FLYP PA