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République Grolée Carnot
Asset Management
Our objective: Promotion of Republique Grolée Carnot as retail landmark area in Lyon
Portfolio: 84, 000 sqm, retail, office and residential premises.
Diverse premises (layout/condition). Classical French 1860s architecture with stone façades, 5 or 6 storeys, high classical ceilings.
Mixed use
Retail, offices and residential
Our strategy:
- Asset management
- Development: 20+ new brands opened in last 3 years with 3 anchor tenants in strategic locations : Uniqlo, Hard Rock Café, and Decathlon;
- Huge works have been done to adapt retails and offices to the international rental standard;
- Implementation of long-term brand strategy 3 Republique Grolée Carbor » to improve consumers trafic.
Results:
- 112 brands (JD Sports, Courir, WomenSecret, Hema, Sephora...) and 509 Leases.
ROYAL HAMILIUS
Luxembourg City
Royal-Hamilius is the most ambitious development project in the historic center of Luxembourg of the last decade. Designed by Foster & Partners, it is a mixed-use project of 28,000 sqm that includes a hanging garden, green spaces, a vast car park, apartments, offices, shops and restaurants.
Firce Capital is in charge of:
- Following-up the works on behalf of the client;
- Implementing a leasing strategy;
- Providing financial reporting to the client.
BELVAL PLAZA
Luxembourg, Esch-sur-Alzette
Belval Palza is one of the largest shopping centers in Luxembourg. It is located at the center of the development of the Belval area which is becoming the heart of the city of Esch-sur-Alzette. The shopping center is attached to a train station with 6.8 million visitors per annum (1st footfall of the country).
It has 37,147 sqm of GLA and already welcomes international and national anchor tenants such as MediaMarkt (Saturn), Esprit, Delhaize, and H&M
RETAIL
By 2030, the population of Belval is forecasted to increase by 220% (delivery of 250,000 sqm of residential properties) and the number of workers is forecasted to increase by 316% (delivery of 180,000 sqm of office spaces).
The asset should appreciate as a result of these trends. Firce Capital will maximize value creation by increasing the footfall and modernizing common areas to attract new famous brands (i.e. NOI growth).
FAURECIA
HEADQUARTER
Nanterre
Following a call for tenders in November 2015, Faurecia chose Firce Capital to lead the development of its new international headquarters in Paris.
The project consists of 13,000 sqm (GLA) office building on 5 levels with 2 basements used as parking spaces.
OFFICE
AMPLEXOR
Bertrange
Amplexor is an office building of 2,529 sqm (GLA) located in the municipality of Bertrange. It can be easily accessed by car, bus or even train thanks to a direct access to Bertrange’s railway station (less than 5 minutes away from Luxembourg Central Station).
Our strategy :
Maintain the building as it is (generating steady cash flows), until the departure of the neighboring fuel storage.
The existing building will then be demolished and replaced by a residential building.
Bertrange is a top location for international and local families due to its proximity to the capital, its enjoyable green areas, and its proximity to 2 well-known shopping centers (La Belle Etoile and City Concorde).
HAUSSMANN
Paris
6/8 Haussemann is a 24,000 sqm (GLA) office building ideally located in Paris 9th Arr. on the famous Boulevard Haussmann.
In 2013, Firce Capital was appointed as asset manager of 6/8 Haussmann. At the acquisition, the building was mostly vacant whilst it is now fully let to blue chip tenants. Important and highly complex works were carried out with tight deadlines.
Rental level was enhanced by upgrading the 7th and 8th floors (1,500 sqm). The sale of the asset in 2017 was achieved at a record price.
ANTONY PARC
Antony, Ile-de-France
Antony Parc is a 18,835 sqm office building constructed in 2002 and located in Antony, in the south western suburb of Paris. The office complex was developed on ground and 7 upper floors over an entresol and 5 basement levels of parking (406 units), providing an excellent parking ratio of 1 unit per 46 sqm of office. The building also offers employee dining facilities which benefits from natural lighting, and a landscaped patio. It has been designed to meet class A technical standards.
Firce Capital has redefined the letting strategy. It undertook some refurbishments with light budget to optimize the building capacity. Firce Capital has reached an occupancy rate of 97%.
CAPITOLE
Nanterre
Le Capitole is a 65,000 sqm (GLA) multi-tenant office building located close to the international business district of La Défense, just outside Paris. It has a maximum capacity of 5,000 people daily with more than 1,200 parking spaces.
The building was completely refurbished in 2011 with new common areas and a 175-seat auditorium.
Since acquisition in 2013, Firce Capital, as asset manager, has reached an occupancy rate of 95% (higher than underwriting) with 28 tenants providing a healthy income diversification.
LAFUENTE
Spain, Marbella (Province of Malaga)
La Fuente is an exclusive residential development project in the centre of Marbella, the international luxury reference in Spain with over 1 million inhabitants during almost 6 months of the year. Located on the western side of the city, next to a luxurious residential area (the famous «Golden Mile»), the asset is just a few minutes’ walk away from the beach, the old town and Puerto Deportivo with many bars and restaurants.
Firce Capital is developing a gated community of 15 luxury villas. The project will generate a volume of sale of approximately €35m. Engel & Völkers, one of the most important brokers worldwide and the n°1 in Marbella, is in charge of the commercialisation and marketing.
RESIDENTIAL
MONTE MAYOR
Spain, Benahavis
(Province of Malaga)
Abantos Hills is a complex of 4 luxurious villas in the exclusive Monte Mayor residential gated community in Benahavis. Ideally located on la Costa del Sol, in a natural environment, the asset is close to several world class golf courses and has exceptional sea views towards the African coast.
Firce Capital developed these villas to ensure the best leisure experience of their occupants. Each villa is perfectly well integrated in the surrounding preserved vegetation and is totally sustainable thanks to solar energy. The project will generate a volume of sale of approximately €6m
FONTINHA
Portugal, Porto
Fontinha is a residential development project of 29 flats in Porto with sea views. The asset is just 5 minutes’ walk away from the City Hall (Aliados), the main shopping high street (Rua Santa Caterina), and a public transportation hub (Trindade).
Firce Capital already sold off the program before launching construction as a result of the project’s top quality and perfect location. A volume of sales of approximately €6m will be generated.