HIH extends lease with Castorama in northern France

HIH Invest Real Estate has renewed its lease agreement with Castorama for a retail property in Creil, about 60 kilometers north of Paris. The French DIY and home improvement chain occupies 18,206 square meters of lettable space and has been the sole tenant since 2012. The extension secures Castorama’s continued presence at the site, which also provides 500 parking spaces.

HIH Invest acquired the property in 2010 for a German individual fund. The asset is located in the “Les Longères des Haies” commercial park in Saint-Maximin, part of the Creil Sud Oise conurbation with more than 90,000 residents. The area hosts multiple specialist retailers and shopping centers, including Park Avenue, and benefits from access to the D1016 road and the Paris motorway network.

The property meets current French environmental and energy regulations, including the Tertiary Decree on reducing energy use in non-residential buildings, BACS requirements for building automation, and CRREM compliance.