CLS Holdings has paid £3.1m for 2 Rue Pierre Timbaud, an office in Gennevilliers, a suburb north of Paris.
The 34,122 sq ft (3,170 sq m) building (pictured), together with 107 car parking spaces, is let to SFIG, a subsidiary of Gaz de France.
Tom Thompson, who replaced Glyn Hirsch as chief executive earlier this month, said the properties reaffirmed that France offered good value for money.
The group also announced two new lettings for property in its Paris portfolio. CEPME has taken 12,701 sq ft (1,180 sq m) at Garenne Colombes, and Mederic Insurance has taken an institutional lease for 2,852 sq ft (265 sq m) of offices.
Tom Thompson said: “This is in line with our strategy of finding better value in Europe. But we are still interested in buying property back in the UK as there are some good opportunities there at the moment.”
CLS re-entered the UK market for the first time in three years last month, by completing a deal to buy 200 Great Dover Street, London SE1, a site it ultimately plans to redevelop.
EGi News 31/10/01
