Allianz announced today that haute couture house Givenchy, part of the LVMH Group, is to occupy its 16 Avenue George 5 prime asset in Paris. The French luxury fashion house will move its creative team into the building on completion of the current redevelopment works next summer. The transaction has been completed by Allianz Real Estate on behalf of Allianz group companies.
The historic property, the result of two post-Haussmanian, 19th century buildings merged together to form a space of over 6,000 sqm, is located in the heart of the prestigious Golden Triangle in Paris.
A major restructuring programme has been set up with the aim of transforming 16 George 5 into one of Paris’ most exceptional, high-status buildings. The works, which are making the most of the building's extensive heritage, will create a contemporary space that combines French-style elegance, state-of-the-art digital functionalities and adherence to the latest environmental standards.
Environmental accreditations include the HQE® Rénovation Exceptional level environmental certifications, BREEAM RFO Excellent level, Well C&S and the Effinergie Rénovation BBC label. In terms of the technology, the building will meet the WiredScore connectivity label as well as the new Smarts Buildings Ready to Service (R2S) qualification.
Allianz Real Estate entrusted the work to GA Smart Building under the project management of architects Brunot Gratio Architects and JTPM Architecture. The project illustrates the ability of Allianz Real Estate to fully refurbish historic properties and, at the same time, to create flexible spaces with modern technology in buildings such as 16 George 5 situated in one of the most attractive avenues in Paris.
Allianz Real Estate was advised by Cushman & Wakefield and Franklin.
