Hines, a global real estate investment, development, and property manager, acting on behalf of the South Korean investor, Hana Securities represented by Vestas Investment Management, has acquired the 13,610 square metres, La Distillerie, an Art Deco building formerly a mint alcohol distillery, located in Saint-Ouen in the northern suburbs of Paris.
Under a VEFA agreement, with the sale pending future completion, the development will be completely rebuilt and is due to complete construction in the summer of 2024. The Eiffage Group has agreed to take a long-termlease of the whole building.
Designed by B&B Architecture, La Distillerie plans to retain the imposing historic red brick façade on Boulevard Victor Hugo which is typical of 1930s industrial buildings. The property intends to provide generous floor plates exceeding 2,000 square metres, a double height lobby which comprises two buildings connected by a garden level devoted to numerous amenities including concierge services, a fitness room, restaurant space, a business center and an auditorium. The campus aims to offer its occupants 1,500 square metres of green space and terraces, including an 800 square metres rooftop shielded from the hustle and bustle of the city, four courtyards, a garden, capacity for 1,300 workstations, 100 parking spaces and bicycle racks.
La Distillerie is Hines’ first green loan project in France and intends to target the highest ESG criteria aiming to achieve BBCA Excellent, BREEAM Excellent, NF HQE Excellent and E+C- level E2C2 certifications. Hines believes this will be a first for a building of this size with a concrete structure.
Source: Hines.com on the 21th of September 2022
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