Thor Equities acquired the retail space at 54 Rue de Rennes in Paris for €15m. “Surrounded by premier brands such as Emporio Armani, Lancel and Louis Vuitton, this prime retail property is one of the most desirable assets on the Rue de Rennes in Paris,” said Joseph Sitt, CEO of Thor Equities.
Situated on the corner of Rue Bernard Palissy in the Left Bank of Paris, 54 Rue de Rennesfeatures 267 square meters currently leased to Italian contemporary fashion company Stefanel.
Rue de Rennes is among the prime shopping streets in Paris, both for the number of stores and profusion of international retailers. Close to the historical district of Saint-Germain-des-Prés, the area surrounding 54 Rue de Rennesfeatures high-end brands such as Cartier, Montblanc, Rolex and Kenzo.
“We are continuing to focus on prime areas of Paris and other core European cities including London, Madrid and Milan, due to an improving macro-economic environment and increased tourism spending,” said Jared Hart, managing director of Thor Equities.