In the current context, a multi-occupant strategy combined with a building offering a range of services turned out to be a winning formula that meets the needs of the market and users perfectly.
The initial aim for the renovation of Up-On, operated by AG Real Estate since 2020, was to refurbish the interior of an existing building by rethinking the use of space and layout.
The main objectives were to bring the entire building into line with current technical standards, give the interior an ambitious architectural design as well as imagine and create new spaces: an agora between the ground floor and the first floor, flexible office spaces with a divisible floor area of 1,000 m², an office space fully fitted out in Plug & Play mode, shared meeting rooms, a common work area, a multi-purpose gym, a multi-company restaurant as well as a rooftop consisting of a plant-filled greenhouse, relaxation corners and a planted slope. The works, which are currently being finalised, are aimed at completely refurbishing the building’s plaza and the multi-company restaurant.
All of these spaces are managed by Eneixia, the service provider managing hospitality and events at the site.
Up-On now has an 80% occupancy rate, with 4 new leases signed since the start of 2024 in the context of a tri-exclusive mandate with JLL, CBRE and C&W. The users operate in a variety of different sectors:
- Atout Pi (intellectual property firm) has the entire 5th floor with a floor space of 1,037 m² (effective date March 2024) - JLL transaction;
- Saint Hubert (company specialising in agri-foodstuffs) will occupy the entire 4th floor with a floor space of 1,033 m² (effective date July 2024) - CBRE transaction;
- Iconeus (supplier of scientific equipment) will occupy half of the 7th floor with a floor space of 587 m² (effective date September 2024) - C&W transaction;
- And finally, Syneos Health (pharmaceutical company) with the entire 6th floor, in other words 1,037 m² (effective date November 2024) - JLL transaction.
With the rents at around €410/m² and lease incentives maintained at around 30%, the initial objectives have been met.
Located along the ring road close to Porte d’Orléans, Up-On is a Parisian address that combines city life and flexibility. The building has a strong and strategic geographical location that favours easy access (from the 14th arrondissement and metro line 4) and good visibility from the ring road, enabling some users to enjoy the brand visibility effect, not to mention the numerous services in the surrounding area.
It also has triple certification: BREEAM In-Use Level Good, OsmoZ and WiredScore Certified Level 1.
“Thanks to its geography, its services and all of its architectural qualities, Up-On adapts very well to tenants’ needs in a complicated context. This project demonstrates AG Real Estate’s approach: the agility to adapt thanks to highly responsive in-house teams and the ability to reinvent a place and project when faced with the many constraints we are confronted with today” concludes Thibault Delamain, Director General and Head of Investment & Asset Management France.
Finally, a glass screen mounted on a section of the building will be leased to Art dans la Ville for three months this summer, in order to install a photograph with a sports theme on it using micro-perforated window film, thus adding to the city’s cultural vibrancy.
Pictures : © Jad Sylla
