Crédit Agricole Assurances and Eiffage sign a sales agreement for Grand Hôtel-Dieu de Lyon, which will house InterContinental’s fifth hotel in France, the Intercontinental® Lyon Hôtel-Dieu

June 12 2015

Crédit Agricole Assurances, in association with the Crédit Agricole Centre Est Regional Bank, is announcing the acquisition of the Grand Hôtel-Dieu de Lyon from Eiffage. At the same time, InterContinental Hotels Group (IHG®) is announcing that it has signed a deal for its fifth InterContinental® hotel in France, the InterContinental® Lyon Hôtel-Dieu, part of the Grand Hôtel-Dieu complex. The Grand Hôtel-Dieu, which has full “historical monument” listed building status, is located on the banks of the River Rhône in Lyon’s city centre?, at the heart of the peninsula, on a site owned by Hospices Civils de Lyon, with which a 99-year construction lease has been signed.

Gérard Collomb, Senator-Mayor of Lyon and President of Métropole de Lyon, declared:

“I am delighted to see the culmination of all the work accomplished over the last few months. This agreement will enable us to take a decisive step forward with the implementation of the Grand Hôtel-Dieu project, which will become the leading site for our city’s international appeal, as well as a very beautiful living space for all of Lyon’s residents”.

With Eiffage Immobilier and Generim as joint developers, the operation has been entrusted to the architects Albert Constantin and Claire Bertrand (AIA associés) and Didier Repellin, chief architect for historical monuments.

With its subsidiaries Eiffage Construction and Eiffage Energie, as part of an integrated approach, Eiffage will be handling all the redevelopment work on the Grand Hôtel-Dieu. This 51,500 sq.m real estate project is the largest private operation to date to redevelop a listed historical monument in France.

In 2018, when the work is completed, the site will offer 17,100 sq.m of shops and restaurants, as well as a commercial hub of nearly 13,600 sq.m (to be delivered from end-2017), a 143-room 5 star hotel (13,500 sq.m), a 2,500 sq.m conference centre, 1,000 sq.m of residential space and an international gastronomy centre (3,600 sq.m – not included in acquisition).

The InterContinental Lyon Hôtel-Dieu will be managed by IHG® under a management agreement with Crédit Agricole Assurances. The future hotel will further strengthen a brand portfolio that already includes the InterContinental® Paris – Le Grand, the InterContinental® Marseille Hotel Dieu, the InterContinental® Paris – Avenue Marceau and the InterContinental® Carlton Cannes.

This project also has a strong environmental focus, particularly for energy issues, with the Grand-Hôtel Dieu to be BREEAM Bespoke Very Good certified on delivery.

On this transaction, Crédit Agricole Assurances and the Crédit Agricole Centre Est Regional Bank were advised by Crédit Agricole CIB, the law firm De Pardieu Brocas Maffei, the notary’s office Cheuvreux, Orfeo Développement and Financière Scaprim.

Eiffage was advised by Herbert Smith and the notary’s office Ginon.

IHG was advised by the law firm DLA Piper.

The acquisition will be held within a real estate fund (OPCI) managed by Crédit Agricole Immobilier.

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PRCAA-Grand-Hotel-Dieu-Lyon 12-06-2015