Beaugrenelle shopping centre (Paris, 15th arrondissement)
In January 2003, SCI Pont de Grenelle (a non-trading property company), owned by Foncière Euris (40%), Apsys International (30%) and Paris Orléans (30%), won the bid organised by Gecina for the total redevelopment of the Beaugrenelle centre.
SCI Pont de Grenelle acquired 50% of the shares in SCI Beaugrenelle, the structure that holds the assets. Gecina owns the remaining 50%.
With floorspace of 45,000 square metres, Beaugrenelle is one of the three largest shopping centres in Paris. Its catchment area includes some of the wealthiest neighbourhoods in the city (the VIIe, XVe, XVIe arrondissements, among others). It has spectacular views of the banks of the Seine river, which will be made the most of.
This reconstruction will enable it to be brought up to modern ecological, commercial and architectural standards.
Marketing of the centre is at an advanced stage, with firm leases for 40% of the rental space and 55% of commercial space, with leases to Virgin, Galeries Lafayette, Mexx, Esprit, Celio Gap, Swarovski and a Gaumont cinema.
|AS AT 31 MARCH 2010|
|Amount invested:||€20.2 million|
|Estimated Value||€19.5 million|