French offices deliver best performance since 2008
The French office market has seen its best performance since 2008 in the first half of this year thanks in part to strong demand in the regions.
BNP Paribas Real Estate has calculated that economic growth has seen a take-up of 2.21 million square metres of office space and €8.83 billion invested into the sector in the first six months of 2018.
The regions attracted €930 million in investment and saw 857,000 square metres taken up by tenants. Lyon has bolstered its position as the top regional market with investment the highest in France outside Paris, standing at €232 million, and 140,000 square metres of take-up. Notable transactions signed over the period include the APICIL building, bought by PERIAL for €70 million, and Real IS buying the Docksite building for €66 million. Prime rents in the city stand at €300 per square metre for the Grand Hôtel Dieu scheme at Presqu’Île and at €295 per square metre in the Part-Dieu business district.