Central Seine

Central Seine, Paris

Asset development increases building quality

Union Investment used the moving out of a lessee from the Central Seine office building in Paris after more than ten years as an opportunity to improve the asset. The intensive renovation measures have paid off: the building now has HQE Excellent certification. It is one of the most sustainable and profitable buildings in the portfolio.
32.000 sqm office space in Paris
14,3 Mio. € invested in asset development
24 months project period

Starting situation

The Central Seine office building provides a lease area of over 32,000 m2 in the 12th arrondissement of Paris, between Gare de Lyon and Gare d’Austerlitz stations. The River Seine is only a few metres away from the building. Union Investment has managed the property since the project development phase within the portfolio of UniImmo: Europa. Following completion in the year 2000, the property was initially leased in full to the pharmaceuticals company Sanofi Aventis. To ensure the high standard of the building in the long term, Union Investment invested heavily in refurbishment after the company left.

Central Seine Nacht

The aim

Through the comprehensive asset development, the Central Seine building was to be adapted to the increased sustainability demands of Union Investment and, due to its representative position, even take on a leading role in the portfolio. In addition, primary energy consumption was to be reduced considerably and the usage flexibility increased.

Tania Bontemps
‘Via the asset development, we had the opportunity to reposition the Central Seine building within the competitive lease market in Paris and to create unique selling points at its location.’

Tania Bontemps, President of Union Investment Real Estate France

The solution

As part of the refurbishment, new lighting and ventilation systems, networked with a building control system that was also newly installed, were integrated into all 14 floors of the building. Those were the essential measures to sustainably reduce energy consumption within the building. Other changes included renovation of the floor coverings and the lobby. Union Investment invested a total of 14.3 million euros into the renovation work.

Central Seine Lichter

The result

The Central Seine building has established itself as an office property on the Parisian market that is a lessee-oriented and attractive long-term proposition. The property is fully leased to three creditworthy companies. The building achieved top ratings in ten of the 14 categories measured in the HQE (Haute Qualité Environnementale) certification and now has an ‘Excellent’ certificate. The primary energy consumption is 43% below the target value valid for existing buildings in France.

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