Vitura

Activity at end-September 2023

Regulatory News:

VITURA (Paris:VTR):

Repositioning sustainable urban campuses

After work on the Arcs de Seine building, which was rounded off at the start of the year with the delivery of the gym and business center, Vitura's strategic repositioning of three of its properties continues.

In the third quarter, redevelopment work on the Rives de Bercy building was delivered on time. As part of this bold architectural project, a new entrance was built for cyclists and pedestrians, creating a real connection with the city. Paying tribute to new uses and workplace trends, the work also included the addition of a gym, restaurant area and social spaces, while users now have access to 6,000 sq.m of private landscaped areas where they can escape from the city heat.

In line with our commitment to environmental excellence, the property's carbon footprint has been reduced to a minimum, with 26 times less CO₂ emitted than would have been the case if the same building had been demolished and rebuilt. The property is currently being marketed and is already attracting interest.

A building permit has been granted for the ambitious project to bring together the Passy Kennedy and Office Kennedy properties within a single 34,000 sq.m campus. The new complex, located in the extended CBD with wide views over the Seine, will offer a broad range of upscale amenities and be certified to the highest environmental standards. Discussions are already underway with international banks to secure the financing of the project.

Key figures

In the first nine months of 2023, Vitura recorded IFRS rental income of €39.2 million, compared with €40.2 million in the prior-year period. This slight fall is mainly attributable to tenants vacating properties set to undergo redevelopment work. It was partially offset by rent received in connection with leases recently signed on properties in operation, as well as by index-linked rent increases of 6.5% over the first nine months. 100% of rents and charges were collected.

Since the beginning of the year, leases representing 11,000 sq.m of space have been signed with six high-profile tenants. These include (i) Bouygues Telecom, which is returning to Arcs de Seine where it was headquartered until 2011, and (ii) Bpifrance, the French public institution that provides financing to entrepreneurs, which is moving to the Europlaza tower in the La Défense business district. These new leases reflect the attractiveness of the two properties.