Societe Fonciere Lyonnaise (SFL) (PARIS:FLY) today
completed the acquisition of a building at 247-251 rue Saint-Honore
from AXA REIM France.
Located close to Place Vendome in Paris' 1st arrondissement, the
mixed office and retail property (with a net floor area of 22,000
square metres) will expand SFL's presence in the city's central
business district.
The building, which once housed a part of the Ministry of Justice,
will be renovated with the help of the architect Jean-Michel Wilmotte
and converted into either a grade A office building or a four-star
luxury hotel.
The transaction totalled EUR 94 million plus acquisition costs and
VAT.
The buyer was advised by Cities Consultants, Ashursts and Oudot &
Associes.
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Profile: With an exceptional portfolio of properties valued at nearly
EUR 3 billion excluding 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.
Societe Fonciere Lyonnaise is listed in the Eurolist Compartment A of
Euronext Paris. ISIN: FR0000033409 - Bloomberg: FLY FP - Reuters: FLYP
PA.
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