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Covivio — Earnings Release 2010
Jan 11, 2011
1222_iss_2011-01-11_f40ddb5e-958b-4279-a76e-d043ea729469.pdf
Earnings Release
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Press release
Paris, 11 January 2011
Foncière des Régions: Letting achievements for Carré Suffren
23 000 sq. m rented to AON, to the French Ministry of Education and to Institut Français
Foncière des Régions has leased Carré Suffren, a building located at the foot of the Eiffel Tower in the 15 th arrondissement, to AON, the insurance and reinsurance broker, (15,000 sq. m), to departments of the French Ministry of Education (5,000 sq. m) and to the Institut Français (3,000 sq. m). The remaining 1,500 sq. m are currently subject to advanced negotiations.
The average firm lease length is around 10 years, with 12 years for AON and 7 years for the Ministry of Education and Institut Français. On a full-year basis, the total rent amounts to €13.1 million, i.e. an average rent of €527 per sq. m/year.
The building purchased in partnership with Predica (40%) from the Commissariat à l'Energie Atomique (French Atomic Energy Commission) in November 2004 and delivered at the end of 2009, has been completely restructured with the architectural firm FS Braun & Associates. CBRE, Cushman & Wakefield and BNP Paribas Immobilier were the letting agents.
Located at the foot of the Eiffel Tower, 150 m from the Seine embankment and close to public transport, Carré Suffren is easily accessible and offers excellent links to the main Parisian business centres. It is a free-standing building consisting of three wings arranged around a private landscaped garden and offers two separate entrances (31/35 rue de la Fédération and 8 rue du Capitaine Scott).
The size and brightness of the floors, the quality of the operational areas and the numerous services all provide users with an extremely comfortable working environment. The environmental certification (HQE
Exploitation) is in progress. "The success of the rental offer confirms the excellent position of the building on the Left Bankmarket. End -users have opted for its relevant design which offers modularity and flexibility, with an extensive range of division and layout options", declared Olivier Estève, Managing Director for Office Real Estate atFoncière des Régions.
Sébastien Bonneton Tel.: + 33 (0)1 58 97 52 44 [email protected]
Investor Relations Philippe Le Trung Tel.: + 33 (0)1 58 97 52 04 [email protected] Press Relations Philippe Boyer Tel.: + 33 (0)1 58 97 52 23 [email protected]
About Foncière des Régions
Foncière des Régions, foncière partenaire
Foncière des Régions is a major listed real estate company with unique characteristics:
A Real estate company focused on offices
The real estate partner of large corporates (France Telecom, EDF, Accor, Dassault Systèmes, Suez
Environnement, Telecom Italia, etc)
Highly visible rental income
A continuous asset enhancement strategy (property quality and efficiency, environmental performance, etc).
A listed real estate investment company (SIIC), Foncière des Régions also successfully applies its business model as a real estate partner to other business sectors (logistics, business premises, etc.).
Key figures at the end of June 2010
€8.6 bn assets (Group share) 337 staff throughout France
To learn more: www.foncieredesregions.fr