PARIS--(BUSINESS WIRE)--Regulatory News:
While delivery of the Biome property is expected for the summer following a major redevelopment project covering almost 25,000 sq.m., SFL (Paris:FLY), the benchmark in the Paris prime commercial property market, can already announce that La Banque Postale and SFIL will be letting all the office space at 112-114 avenue Emile Zola / 52 rue Violet in Paris’ 15th arrondissement. The transaction covers the entire office space as well as the adjoining amenities such as the staff restaurant, service facilities and conference centre, representing more than 23,000 sq.m.
La Banque Postale, a subsidiary of La Poste group, and SFIL* are major players in financing for the French economy and local authorities. They have signed two ten-year leases and plan to move their teams into the new premises from mid-2023, after completion of internal configuration work.
The historic headquarters of SMA BTP was acquired by SFL in 2017. The iconic building dates from the 1960s and is the work of architects Fernand and Francis Leroy, Raymond Lopez and Henry Pottier. Located in a mixed-use neighbourhood with an outstanding quality of life, Biome stretches over a 6,000 sq.m plot, offering the opportunity to build a unique property that sets a leading example through its environmental ambitions, and showcases SFL’s expertise.
One of the first low-carbon BBCA Rénovation projects in Paris, Biome is a benchmark in environmental performance. The project had ambitious environmental objectives such as limiting the carbon impact of the materials used, choosing a simple design, reusing original features and fostering biodiversity by creating planted areas with regional and varied species.
Jouin Manku (architectural concept and design) and Yrieix Martineau Architecture (YMA) (lead architect) worked together on the complex’s extensive remodelling. They combined their talent and ideas to create the new architecture, iconic for its neighbourhood, while putting the energy transition front and centre of the project. The work to redesign and enhance the outdoor spaces was led by landscape architect Thierry Laverne.
The project involved redeveloping the existing main building to increase the number of workspaces and create new high-performance, more transparent façades overlooking the city, as well as constructing a new building on Avenue Emile Zola. A real technical challenge, the new building features a concrete exoskeleton and a sloped, eight-story design and is connected to the existing structure via a transparent walkway. The complex has some 3,500 sq.m of outdoor space, unmatched by any other real estate in Paris – including a landscaped garden, terraces with views and numerous balconies.
* La Poste group and SFIL are both subsidiaries of Caisse des Dépôts.
The changes in our working patterns – with social life, interaction, quality of life and nature-filled surroundings now being the main reasons for coming to the office – inspired the design of the new spaces. The wide range of amenities offered in the outstanding spaces from the ground floor to the roof terrace contribute to the quality of life and well-being of the occupants.
Dimitri Boulte, Chief Executive Officer of SFL, commented: “We are very proud to welcome two major French companies that have chosen Biome for their future premises in Paris. At SFL, every one of our projects is a reflection of our strong convictions and ambitions. The newly-remodelled business centre reflects our desire to offer employees an exclusive, premium working environment where they will want to come to work, offering multiple experiences throughout the day and opportunities to create social ties and instilling pride in their workplace. Biome is the result of a collective effort between highly-talented architects Jouin Manku and Yrieix Martineau. It sets a new benchmark for the neighbourhood and for Paris as a whole, and the transaction reinforces our unique strategy as a pure player”.
Bertrand Cousin, Managing Director of Corporate and Investment Banking and member of the Management Board of La Banque Postale, said: “The move to an eco-responsible building with a low environmental impact is first and foremost in line with our purpose as a corporate citizen. It also embodies our desire to offer our teams a highly‑attractive working environment on a site that meets the new standards of quality of life at work; Located close to La Banque Postale’s headquarters, the new site will deliver fresh momentum, in particular for the Corporate and Investment Banking teams that will all work together on the same premises, alongside the SFIL teams. La Banque Postale consulted La Poste Immobilier when choosing the new location, which aims to provide a unique employee experience”.
François Laugier, Deputy Chief Executive Officer of SFIL, commented: “Above and beyond their architectural prowess, the new offices are in lock-step with the needs of our time and in line with SFIL’s corporate purpose and environmental commitments. The pleasant, efficient working environment will foster teamwork both on-site and in hybrid mode, which is now a permanent feature of our practices. The new premises will also create the right conditions to strengthen the strategic partnership between SFIL and La Banque Postale in local public sector financing”.
SFL was advised in the transaction by Ashurst. La Banque Postale and SFIL were advised by La Poste Immobilier, the real estate subsidiary of La Poste group, and by Depardieu, Brocas and Maffei. The transaction was carried out by CBRE’s transaction teams.
About La Banque Postale
With its subsidiaries, including CNP Assurances, La Banque Postale is a leading European banking and insurance specialist, ranked 11th in the euro zone by balance sheet assets. Its diversified business model enables it to support 20 million individual and corporate customers with a comprehensive range of products accessible to all. A subsidiary of La Poste group, La Banque Postale offers local banking services through 17,000 contact points, including 7,300 post offices, throughout France. It is also a leader in sustainable finance, rated among the best in the market by non-financial rating agencies. Its strategic plan, “La Banque Postale 2030”, sets the ambition of becoming the favourite bank of the people of France, with an integrated and omnichannel offer of bank and insurance services based on three distinct brands: La Banque Postale, its everyday bank, Ma French Bank, its 100% mobile bank and Louvre Banque Privée, its private bank. As a community bank, La Banque Postale is fully focused on shaping a just transition to an economy and a society capable of responding to environmental, social, regional and digital challenges.
About SFIL
SFIL is a public development bank with two main missions:
- local public sector financing in France in partnership with La Banque Postale;
- refinancing of major export credit contracts guaranteed by the State.
SFIL is the seventh largest French bank by balance sheet assets and joined the Caisse des Dépôts group in 2020. It has just announced its second strategic plan, #Objectif2026, to support the development of French regions and the economy.
About SFL
Leader in the prime segment of the Parisian commercial real estate market, Société Foncière Lyonnaise stands out for the quality of its property portfolio, which is valued at €8.1 billion and is focused on the Central Business District of Paris (#cloud.paris, Edouard VII, Washington Plaza, etc.), and for the quality of its client portfolio, which is composed of prestigious companies in the consulting, media, digital, luxury, finance and insurance sectors. As France’s oldest property company, SFL demonstrates year after year an unwavering commitment to its strategy focused on creating a high value in use for users and, ultimately, substantial appraisal values for its properties.
Stock market: Euronext Paris Compartment A – Euronext Paris ISIN FR0000033409 – Bloomberg: FLY FP – Reuters: FLYP PA
S&P rating: BBB+ stable outlook
