UK Real Estate Investment Trust (REIT) SEGRO and Icade, one of France’s leading commercial developers, have signed preliminary agreements to acquire land for the redevelopment of the Gobelins rail station, in the 13th district of Paris.
This is a significant milestone in the delivery of the Reprendre Racines (Back to our Roots) project, SEGRO and Icade’s development masterplan selected by French national rail company SNCF and City of Paris as part of the Reinventing Paris 2 competition, said the company in a statement.
The masterplan will include a mix of office space, logistics space and public realm. The scheme, which is scheduled to complete by 2025, will deliver a mix of commercial uses above and below ground in a city where developable space is limited.
SEGRO will develop a 75,000 sq.m underground logistics centre intended for urban distribution and last-mile delivery. The hub will be developed to high environmental and wellness standards, including charging infrastructure for electric vehicles and delivery tricycles as well as recycling points and a bike repair centre.
Icade will deliver two office buildings totalling around 14,000 sq.m, providing workspaces to both local start-ups and more established companies in the Paris region. There will be dedicated sport facilities, including climbing facilities and basketball courts, urban greenhouses and a 1.3 hectare garden on the Olympiades esplanade.
“This is a significant milestone as we advance a pioneering underground logistics scheme at Gobelins former railway station,” said Laurence Giard, General Manager for France, SEGRO.
“The growth in ecommerce is driving demand for logistics space in major urban centres, where land for development is a scarce resource. The underground logistics hub proposed at Gobelins railway station is a new and innovative model for delivering logistics space at scale in one of Europe’s most densely populated cities, within a brand new world-class mixed-use destination.
“We look forward to working with our partners Icade, SNCF, City of Paris and the local community to bring these exciting plans forward.”