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We acquired Le Cristallin in Courbevoie, NW Paris in 2020.
The fully-let office building is located in within a major urban renewal project comprising 200,000 sqm of offices and 80,000 sqm of housing. The fast-improving area has been in development since 2013 and benefits from proximity to the Bécon-les-Bruyères train station, which will be serviced by the highly anticipated Metro Line 15 (Paris orbital metro).
Le Cristallin is a former industrial building featuring extra-wide floor plates and high slab to slab heights, offering significant flexibility and a high level of comfort for tenants. It has also benefited from a significant refurbishment in 2017, including the integration of an impressive 1,700 sqm rooftop with views of central Paris and La Défense. The works also incorporated green walls, thermal insulation and electric car charging to enhance the sustainability credentials of the building.
While the asset does not require immediate work, as part of our strategy to achieve net zero operational carbon by 2030, we will make additional improvements to the building's technical systems that enhance its sustainability credentials.
The intrinsic qualities of this building, in particular its flexible floorplate, mean the asset is a suitable investment for a post-Covid market, where adaptability to future tenant requirements will be essential.