Altarea Entreprise signs 99-year emphyteutic lease with French government on property complex in central Paris

Built in the mid-19^th and early 20^th centuries, the complex combines a neoclassical style with an elegant Art Nouveau façade reminiscent of the Régina Mitoyen Hotel. Located in the immediate vicinity of the Palais Royal and Comédie Française, these arcade-lined buildings decked with typical Parisian street lamps enjoy stunning views of the Jardin des Tuileries in a highly attractive neighbourhood.

The building was occupied by the Ministry of Finance until 1992 and has housed the Ministry of Culture since then. The property was extensively redeveloped in the 1990s, including the creation of a monumental staircase offering ideal access to each of the walk-through upper floors.

Altarea Entreprise CEO Olivier Petreschi said: “In the heart of Paris, accessible by public transport and right next to the Rue de Rivoli cycle lane, this premium property complex will offer users an unrivalled experience. We are delighted with this agreement, which illustrates Altarea Entreprise’s convictions about the future of the office: central locations, renovation tailored to user expectations, low-carbon impact and living spaces seamlessly blended into the city.”

Lease term: 99 years

Advisers:

Altarea: Wargny: Samuel Champeaux, Nélita Dubois 

  De Pardieu Brocas Maffei: Emmanuel Fatôme, Priscilla Nègre, Claire Deramoudt, Ilhem Haouas.

French government: 14 Pyramides: Hervé de Gaudemar, Philippine Mahot de la Querantonnais