Lagardère: real-estate sales of up to 430 million?
(CercleFinance.com) - According to Le Figaro, Lagardère is set to put the head office of Europe 1, located in the 8th 'arrondissement' (administrative district) of Paris up for sale.
The Group could raise up to 300 million euros from this sale, without counting the RTL sale, estimated at up to 130 million.
Europe 1 is set to move in mid-2018 from Rue François Ier to the site of the former head office of Canal + in the 15th 'arrondissement' of Paris. In the meantime, the parent company has plans for the current Europe 1 premises, composed of 4 'hôtels particuliers' together in a great location. These make up a total surface area of 11,000 m2. Le Figaro believes that Lagardère is aiming to achieve more than 27,000 euros per square metre, putting the total price at between 280 and 300 million euros.
The group has in the past submitted and been granted a building permit to “recreate” 7,500 m2 of offices and 1,500 m2 of commercial premises in this sought-after area for luxury boutiques. Le Figaro believes that Lagardère may already have sealed the deal for over 300 million euros with an unnamed Middle Eastern fund.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The Group could raise up to 300 million euros from this sale, without counting the RTL sale, estimated at up to 130 million.
Europe 1 is set to move in mid-2018 from Rue François Ier to the site of the former head office of Canal + in the 15th 'arrondissement' of Paris. In the meantime, the parent company has plans for the current Europe 1 premises, composed of 4 'hôtels particuliers' together in a great location. These make up a total surface area of 11,000 m2. Le Figaro believes that Lagardère is aiming to achieve more than 27,000 euros per square metre, putting the total price at between 280 and 300 million euros.
The group has in the past submitted and been granted a building permit to “recreate” 7,500 m2 of offices and 1,500 m2 of commercial premises in this sought-after area for luxury boutiques. Le Figaro believes that Lagardère may already have sealed the deal for over 300 million euros with an unnamed Middle Eastern fund.
Copyright (c) 2017 CercleFinance.com. All rights reserved.