Grosvenor Europe has expanded its portfolio in Paris with the acquisition of 鈧�29m office building.
The manager said the 5,000sqm office building is leased to a major French communications company.
Steve Cowen, executive director, investment and development, Grosvenor Europe, said: 鈥淥ur strategy is to acquire core or value-add office assets in Paris and key inner-suburban sub-markets, where there is strong income or significant potential for future redevelopment.
鈥淭he intrinsic qualities of this building, in particular its flexible floorplate, make it a particularly interesting asset in light of how offices are likely to evolve in a post-COVID world.鈥�
Alban Hall茅, director, France, Grosvenor Europe, said: 鈥淭his high-quality building does not require immediate work, but as part of our strategy to achieve net-zero operational carbon by 2030, we will make improvements to the building鈥檚 technical systems that enhance its sustainability credentials.鈥�
The latest deal follows Grosvenor Europe鈥檚 in Levallois and Pantin last year.
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