Not issue to pay the accommodation to the taxpayer

It is a signal. The Phare project, this tower 300 metres high to form swollen, with his atrium of 78 metres in height to the 11eétage and amazing view on Paris, a restaurant in 27eniveau, a star table top business..., is finally launched. After four years of studies and dithering on the appropriateness of such a project, the Board of Directors of the Epadesa, the institution of the defence Seine arch management, signed Friday with Unibail-Rodamco technical and financial protocol above compromise, and Bill of sale of the land.

"A new generation, and incredibly powerful" building, according to his book master Guillaume Poitrinal, the President of the land, will develop between the arche de la Défense and the CNIT, also property of the group. It also tracks, circular boulevard, pedestrian walkways and cause "on land which today does not exist, says the pattern of Unibail, since the space is occupied by infrastructure." This is the reason for which the investor suggested the public establishment "offer" the land right-of-way. "That day, the Board of Directors rose as one man and left the room," remembers a witness.

Tough negotiations

Since the month of July, the negotiations were tough. The record defended by Unibail-Rodamco, which seeks to reduce the cost of rights to construct its building, would be even up to the Elysee Palace. But Philippe Chaix, Director General of the Epadesa, not assigned. Not issue to pay the accommodation to the taxpayer. It relies on revenue to carry out the work necessary for the reception of this building nearly 150,000 square metres.

Guillaume Poitrinal evaluates the project to 900 million euros, including land, the more approximate sales since it was already travelling in the competition in 2006 and is likely to have varied since. In any case, the cost of the operation should be financed on the own funds of the group. "The price of the land charges will be re-evaluated if the operation encounters a great commercial success", explains the President of the land. Unibail nor the Epadesa don't want to detail the terms of the transaction.

A costly construction

The construction of this sculpture, characterized as a prototype by its architect Thom Mayne, may be more expensive than expected given its complexity, its irregular forms and the field of networks on which it relies. It should last for four years, at the end of which Unibail plans to rent office space to rent conventional defence, around 540 EUR per square metre per year for the highest posted, 440 in rentals actually before, probably of reselling it once occupied.

President of a land but also sponsor, Guillaume Poitrinal thus reiterate the "coup" of Léon Bressler, its predecessor, with heart defence, a building of 180.000 square meters Office launched in 1997, delivered in 2001, valued, and assigned to 2.1 billion euros six years later. Internally, however, the enthusiasm seems a little less marked for a project, considered a very risky. In fact, in 2016, flagship will not only new Tower in the sky of the defence.

Friday, the Board of Directors of the Epadesa also recorded the sale of the land charges of Majunga, also developed by Unibail, D2 funded by Sogecap, and signed the agreement for sale of Generali, another vessel of 300 metres high.