By Inès Beaugé, Business Immo
With nearly a dozen renovation projects on the books, the 8th arrondissement of Paris holds no secrets for the asset manager and property developer Chelsfield, which recently announced the redevelopment of the Villa Matignon at 7 rue du Cirque, owned by the Olayan Group. Located near the Elysée Palace and the Hotel Le Bristol, a stone’s throw from the American and British embassies, “this magnificent mansion boasts an elegant façade and an exceptional location,” said Nicolas Marin, Senior Asset Manager for Chelsfield.
Villa Matignon is a beautiful stand-alone office building at 7 rue du Cirque, near the Elysée Palace and the hotel Le Bristol and a stone’s throw from the American and British embassies.
ARA Asset Management Limited (ARA) and Chelsfield have secured a S$385.8 million green loan from DBS Bank and United Overseas Bank Limited (UOB) to finance the acquisition and asset enhancement of their 50:50 joint venture, 5One Central (formerly known as Manulife Centre), in Singapore. The loan is issued under the green loan framework jointly developed by ARA and Chelsfield, in line with both companies’ commitment to developing and designing buildings that achieve the highest standard of sustainability.
The future of office real estateBy Ryan Fuld, Director of Acquisitions and Asset Management, America and Charles Silvey, Investment Partner, London.
The future of the workplace and its role within commercial real estate has been under considerable re-examination following the COVID-19 outbreak, with the key focus surrounding the existential question of the need for physical offices versus wide-scale adoption of Work-From-Home (“WFH”) and even Work-From-Anywhere (“WFA”). The argument goes: why would a person commute into the office instead of working effectively from home? And why would companies utilize, and pay for, such space to the same degree as before the pandemic?
While the data on working from home and productivity is still emerging, our view is that offices are essential for innovation, collaboration, advancement of company culture, development of human capital/mentorship, as well as an external brand image to clients. These elements cannot be supplanted from a digital work environment.