As revealed by Business Immo on March 19, the Saint-Lazare district of Paris is set to be the scene of one of the largest office transactions in 2025. Deka Immobilien's Solstys, repeatedly put on the market since 2023, was recently the subject of an exclusive deal signed by Gecina, on a €425 million basis.
Currently vacant, the former Nexity headquarters at 19-21 rue de Vienne covers 32,227 m². When it was first put up for sale, some fifteen bids were received, but these were deemed insufficient by the German investor, who bided his time without abandoning the idea of selling.
This deal - if it goes through - will stimulate the investment market in the Saint-Lazare district, whose geographical limits are not defined in the strict sense of the term by the various district councils. Over the past few years, this area, which may be bordered (more or less loosely) by the boulevards des Batignolles, Malesherbes and Haussmann, as well as the Rue de Clichy and Chaussée-d'Antin, has seen a number of transactions across all asset classes, including the acquisition by Copthorne Hotel Holdings, a subsidiary of City Developments Ltd, of the Hilton Paris Opéra, located just opposite the station. Value: €240m, or €895,522/key.
On the edge of the defined zone is the Aparthotel Adagio Paris Opéra at 43 rue de Caumartin, acquired by CDC Investissement Immobilier from Allianz for €43m. Closer to the railway junction: 5-7-9 rue de Rome, signed in 2024 by SCPI Allianz Pierre with Axa IM Alts; a 2,642 m² office building completed for around €30 million. Another significant deal was the sale of EuroAthènes by DWS to Cipav, which paid over €100 million for this 5,123 m² office property, leased by Hermès. These are just a few examples.
The Saint-Lazare district also offers opportunities at lower cost...