A joint venture between Benson Elliot, the London-based private equity real estate manager and Générale Continentale Investissements (GCI), the leading Paris real estate investment and development group, has started works on a 22,300 sqm office redevelopment in the heart of La Défense in Paris.
Latitude will provide 22,300 sqm of Grade A office space over eight floors and will offer occupiers a modern working environment. Its expansive floorplates – a rarity in a La Défense market dominated by tower blocks – will feature landscaped break-out areas, as well as state-of-the-art amenities for both tenant and public use. Latitude is scheduled to complete in Q2 2020.
Latitude is distinctive for its lateral design, conceived by the award-winning STUDIOS Architecture. The building will be highly visible in the La Défense market, situated adjacent to the La Défense ring road and close to the Centre of New Industries and Technologies (CNIT), a major convention centre and La Défense landmark.
Rémi Monglon, Principal and Head of France at Benson Elliot, commented,
“After two years of hard work, alongside first class architects and developers, we are pleased to introduce Latitude. The property has a unique design, and upon completion will deliver efficient, top quality office space, with the highest environmental credentials, into a sub-market seeing limited new supply.”
GCI Managing Director Sharon Raingold said,
“We are truly excited about this project and are confident that Latitude will make a significant contribution to the new, vibrant face of La Défense. We are offering our users highly flexible and new ways of working. Our aim is to expand what is possible within a working environment and enhance what this world-class business district has to offer. In an area where towers dominate the skyline, we believe the large, lateral floorplates of Latitude will encourage a less hierarchical and more forward-thinking business model, where innovation and collaboration can be celebrated.”
La Défense is Europe’s largest business district and is home to over 500 companies, including multinationals and Fortune 500s. Following recent infrastructure investment, accessibility to public transport has significantly improved, with Latitude now linking directly to the CNIT and the main hub of La Défense.
Latitude will be built to the highest environmental standards and is set to receive CSR credentials including HQE ‘Exceptionnel’, BREEAM ‘Excellent’, Effinergie+, Well Core and Shell ‘ready’, Wiredscore Platinum.
Bouygues Bȃtiment Ile-de-France – Rénovation Privée has been engaged as general contractor and financing was secured from BNP Paribas and SCOR.