Ozone by SFL Fully Leased
Regulatory News:
Lobby (Photo: Business Wire)
SFL (Paris:FLY) recently simultaneous signed two leases for all of the office space of its Ozone programme at 92 avenue des Champs-Élysées in Paris.
For its Paris head office, the international law firm SJ Berwin has leased 3,500 sq.m of stand-alone offices on four floors.
The building´s remaining 680 sq.m of office space, on the fifth floor, has been leased by Zara France.
These transactions follow on from other leases signed for the building´s retail space. Zara´s new store in Paris, which is due to open in late 2012-early 2013, occupies 2,000 sq.m of ground-floor space alongside the fully renovated and repositioned boutiques leased by Morgan (670 sq.m) and Solaris (61 sq.m).
Thanks to these two new transactions, the Ozone building, which is scheduled for delivery in four months, is now fully leased.
The Ozone programme at the corner of avenue des Champs-Elysées and rue de Berri is SFL´s latest prime property. It has a total surface area of 7,000 sq.m, of which 4,200 sq.m of offices and 2,800 sq. m of retail space.
The building was constructed in 1898 on the site of the former Hôtel de Langeac, where Thomas Jefferson took up residence in 1785 as US Ambassador to France. The location has therefore long been associated with the American community in Paris.
Its architecture is typically Haussmann, with a white freestone façade, wide windows with wrought-iron guards, a rotunda, a majestic stone staircase, fireplaces and decorative mouldings.
It has been entirely restructured under the supervision of architect Vincent Cortès and complies with the latest environmental and technical standards. It has earned France´s High Environmental Quality (HQE®) certification and features a building management system delivering exceptional technical performance, as well as unmatched insulation and soundproofing.
The main lobby of the building, opening onto 92 avenue des Champs-Elysées, showcases the monumental staircase boldly designed by Agent M (Matthieu Paillard and Guillaume Ternard).
The office space has a real rental value of €700/sq.m (average economic rent) and a nominal rental value of around €800/sq.m.
The rent for the new store, whose layout and fittings comply with Zara´s highest standards, is optimal for what many retail property specialists consider to be the finest location on the Champs-Elysées.
SJ Berwin was advised by Knight Frank and SFL by CBRE.
With an exceptional portfolio of properties valued at €3.2 billion including transfer costs, essentially located in the Paris Central Business District, SFL 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:
Euronext Paris Compartment A "´
Euronext Paris ISIN FR0000033409 "´
Bloomberg: FLY FP "´ Reuters: FLYP PA
S&P RATING: BBB- /A-3 Stable outlook
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50344167〈=en