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Executive Offices Open First Argyll Business Centre in Paris
The UK’s Executive Offices Group has unveiled a new location for its premium business centre operation, marking the introduction of the prestigious Argyll brand into the Parisian serviced office market. EOG is the UK’s leading serviced office provider and is owned by Morgan Stanley Real Estate Funds.
The Group has acquired the freehold of a 1725 sq m property located on rue Beaujon in central Paris and is extensively refurbishing the property to bring it up to the highest standard expected from an Argyll business centre. The six storey building is located in one of the most sought after areas of the central business district in the 8 th Arrondissement, within close proximity of Place de l’Etoile and the Champs Elysees.
Argyll provides a superior collection of unbranded period properties in prestigious locations, boasting fine architectural heritage and interiors. Each centre has been sensitively refurbished to offer modern office space backed by a comprehensive choice of professional business support services. The deal marks the first time that the Argyll brand has moved outside the United Kingdom and away from its original home of London.
Peter Allport, chief executive, Executive Offices Group comments: “rue Beaujon constitutes our entry into the international serviced office market, with the first overseas location for our Argyll portfolio. Introducing the Argyll concept in to the French market is an exciting challenge and will provide a very different offer to the wide range of existing services currently available in Paris.
“We selected rue Beaujon because it is a distinctive old townhouse in one of the most prestigious commercial areas of Paris. We sought a location in Paris that was as prestigious as London’s Mayfair and Belgravia, while providing the requisite central location and quality and character of the building.
“With our new centre we have sought to transplant the uncompromisingly high standards of Argyll, using a distinctive and historic period building that is being fitted out to the highest standards and married with the highest levels of customer service. We have been able to enter the Parisian market with only minimal, cosmetic changes as we feel that the winning formula will work very well in France. We feel that the dynamic Parisian market is currently the most appropriate location in which to establish our unique offer away from the UK”.
Argyll provides top of the range, unbranded office accommodation, high quality business services and state of the art technology in prime, often period buildings. The product is well established in Britain with 10 properties located in some of London’s most prestigious areas.
Rue Beaujon was originally built for residential use and was aimed at affluent families, but has since been converted into commercial space. The building comprises a street facing main building with a façade of dressed stone, and a wing overlooking a courtyard in red brick and dressed stone. As with all Argyll centres, rue Beaujon boasts a majestic staircase, stunning reception area, well appointed offices and high quality meeting rooms equipped with the latest technology including videoconferencing and broadband connectivity.
Executive Offices Group is investing €5,000,000 in the extensive refurbishment of the centre in order to provide a modern fit out while retaining the building’s original features. Formally launching in October, the property will feature generous communal lounge areas and air conditioning in order to meet the high specifications synonymous with the Argyll brand. The Group is currently investigating a number of other acquisitions within Paris.