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French Retail Investment Climbs to $2.8B in Mid-Year

PARIS-Savills says retail investment continues to grow in the country, having climbed to $2.8 billion from $700 million in the first half of 2009.

By Allan Saunderson | Updated on August 03, 2010

PARIS-Investment in French retail property grew strongly in the first half of the year and the expansion is likely to continue in the second half, according to international realtor Savills. The investment climbed to $2.8 billion from $700 million in the first half of 2009, largely as a result of the completion of prime retail deals such as Unibail-Rodamco’s acquisition of Simon Ivanhoe and the purchase of the prime Cap 3000 shopping centre by Altarea Cogedim and its shareholders Predica and ABP.

“We believe this upward trend in investment is set to continue throughout the second half of 2010 as some major assets are currently under negotiation, including St-Martial in Limoges for $132 million and l’Heure tranquille in Tours for $106 million,” said Savills’ Christophe Gouny.

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