Banque de France has renewed its lease on a location in the heart of Paris for a further nine years.
The central bank of France is sole tenant at CLS Holdings’ 19,375 sq ft building, at 48 rue Croix des Petits Champs in Paris, next to Place des Victoires in central Paris.
The lease, completed with effect from 1 April 2006 on behalf of CLS subsidiary Citadel Holdings, is for an annual rent of €866,029 (£600,158) corresponding to £30.97 per sq ft plus annual indexation.
The building was purchased for €8.89m (£6.16m) in 1998, and was valued at €12.56m (£8.7m) as at 31 December 2005.
Executive Chairman of CLS, Sten Mortstedt, said: “I am pleased that Banque de France has renewed its lease on a long term basis.
“We believe that this is, in part, a reflection of our efforts to maintain close working relationships with our tenants for our mutual benefit.”
References: EGi News 18/07/06
