Europe’s economy may appear to be teetering on
the brink of recession but you would hardly say so, judging from
the leasing success Axa Real Estate Investment Managers are
achieving in France.
Axa Real Estate reports that in 2011 it signed
96 leases on 175,000sq/m of space in its office and retail
portfolio, an increase of 23% compared with 2010.
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Of the lettings, 58 representing 63,000 sq/m
were new leases, while the remaining 38 representing 112,000sq/m of
space comprised lease renewals and extensions.
The largest new office letting of 2011 was in
Toulouse, where an entire 13,000sq/m building was let to aircraft
manufacturer Airbus.
In a statement, Matthieu Ropert, Axa Real
Estate’s head letting transactions in France, commented:“2011 has
been an excellent year for lettings, not only for the volume we
have achieved, but also for the level of rents we have accomplished
within the French office market.”
He continued that letting momentum has
continued into 2012. “Our pipeline for the remainder of 2012
remains strong with a number of advanced negotiations underway for
further major new transactions,” Ropert said.
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