UK property giant Invista Real Estate Trust has sold two French office space properties to German fund managers Pramerica for E56million, around £44.2million pounds.
Invista is the largest UK listed real estate fund management group, managing both commercial or office space and residential properties. Based in the Channel Islands, they are listed both there and on the Lond Stock Exchange. Invista work across the UK and continental Europe with assests under management totalling almost £7.5bn last month.
Invista have said the huge office space deal with Pramerica forms part of their strategy to sell once value has been realised through asset management.
The two office spaces in question are situated in the French city of Lyon and total almost 200,000 square feet. The first office space is at Ecully and totals 123,000 square feet, while the second totals 68,000 square feet and is situated at Villerbane.
Businesses letting office space at the Ecully site include IBM and the international chemical companies BASF Agro and Scotts France. Animal vaccine company, Merial have taken all the available office space at the Villerbane site.