Gecina : 6,726 sq.m Prelet for the Dock en Seine Project in Saint-Ouen

Regulatory News :

Gecina (Paris:GFC) has prelet 6,726 sq.m of the Dock en Seine building in Saint-Ouen (northern inner rim) to the SVP group, a leading player on the services market covering three business lines: decision-support and information, payroll management and professional training.

The SVP group, which has signed a firm nine-year lease from June 1, 2014, will be setting up its new headquarters in the Dock en Seine building, where around 400 of its 500 employees in France will be grouped together.

Dock en Seine is a new building that will be delivered in December 2013. Designed by the architect Franklin Azzi and built by Nexity as part of an off-plan sale, this building will offer a gross leasable area of 16,155 sq.m of office space and will be HQE high environmental quality (Outstanding) and BBC energy efficiency certified. In addition, all the development programs in the Docks de Saint-Ouen eco-district will be HQE certified (housing or commercial), targeting energy performance levels that exceed the thermal regulations in force.

Dock en Seine is extremely well located in terms of transport connections thanks to its proximity to Metro Line 13. Within the framework of the Greater Paris (Grand Paris) network, interconnections will also be set up with three new Metro lines, as well as the extension of Metro Line 14.

This project represents an investment of 72 million euros for Gecina. Based on the transaction signed with SVP and market rental values for the rest of the building, the potential headline net yield on this asset comes out at 7.8%.

On this transaction, Gecina was advised by BNPP Real Estate and the law firm Baker & McKenzie (Hervé Jégou). The SVP group was advised by BNPP Real Estate and the law firm Hoche (Catherine Ottaway).

Gecina, a leading real estate group

Gecina owns, manages and develops property holdings worth 10.7 billion euros at June 30, 2013, with 90% located in the Paris Region. This real estate company's business is built around an Economic division, including France's largest office portfolio, and a Demographic division, with residential assets, student residences and healthcare facilities. Gecina has put sustainable innovation at the heart of its strategy to create value, anticipate its customers' expectations and invest while respecting the environment, thanks to the dedication and expertise of its staff.

Gecina is a French real estate investment trust (SIIC) listed on Euronext Paris, and is part of the FTSE4Good, DJSI Europe and World, Stoxx Global ESG Leaders and ASPI Eurozone® indices. In line with its commitments to the community, Gecina has created a company foundation, which is focused on protecting the environment and supporting all forms of disability.

www.gecina.fr