In a joint venture, Weinberg Capital Partners (WCP) and Henderson Park have acquired HQ building, 49 Avenue Georges Pompidou in Levallois-Perret, Île-de-France.
The building, 49 Pompidou, features 2,000 square metre floor plates, terraces on each level, panoramic views of the Seine and a triple-height lobby offering occupiers views towards a large interior garden, one of the few in the area. The building is currently partially occupied by the seller. The 18,500 square metre office building presents a strong opportunity for value creation, says WCP.
It is around 5km from central Paris and is just three minutes from the Metro, in an area sought-after by large occupiers seeking headquarters buildings close to the city but at much more competitive rents.
WCP and Henderson Park intend to undertake a renovation project to improve the building’s environmental credentials, enhance outdoor spaces and implement numerous services aimed at improving the quality of work life.
This acquisition strengthens the joint venture’s portfolio following the completion of its L’Arche de La Défense project.
Jean-Philippe Olgiati, Partner at Weinberg Capital Partners, says, “We are convinced of the attractiveness of labelled buildings, of medium size, with competitive rents for large users seeking quality of work life. Especially in the peripheral markets of the Paris Central Business District. We will be very creative in terms of services for this building to meet the users’ needs.”
Christophe Kuhbier, Managing Director at Henderson Park, says, “In a difficult market context, this acquisition is the result of a disciplined process of underwriting an office building with solid fundamentals and great value-creation potential as well as the opportunity to continue our joint venture with Weinberg Capital Partners and our financing partners CACIB.”
