Property investment company Covivio has sold the Anjou office building in the 8th arrondissement of Paris for €230 mln.
The 9,328 m2 building is fully pre-let to a French company operating in the luxury industry and is scheduled to be delivered in 2025.
Covivio acquired Anjou in 2006 and has been completely refurbishing and reinventing it to meet the needs of modern businesses.
The building will offer 1,000 m2 to 1,500 m2 of office spaces, as well as a range of services and outdoor spaces, including catering, work café, multi-purpose room, fitness area, as well as extensive outdoor spaces.
"Anjou" aims to obtain HQE Sustainable Building "Excellent", BREEAM "Excellent", R2S and BBCA Rénovation certification.
The sale of the Anjou building is part of Covivio’s ongoing disposal plan and demonstrates investors' continued interest in quality assets located in central, dynamic and attractive districts. The sale is also a concrete example of the real estate investment trust’s policy of transforming heritage buildings in Paris.
Covivio's office strategy is to (re)develop projects in the best locations, design offices that combine flexibility, well-being, services, and collective and environmental performance, and create spaces and experiences specific to each client.
Currently, three redevelopment operations are underway in French capital's Central Business District (CBD).
At present, Covivio's European office portfolio is 67% located in major city centres and has an environmental certification rate of 91% (including 63% rated "Very Good" or higher).