Citynove and Keys REIM, the portfolio management company of the Keys Asset Management group, have launched a joint venture to transform the Galeries Lafayette shopping centre located in the Lyon suburb of Bron.
As part of the partnership, 70% of the project is being carried out by one of the funds managed by Keys REIM and 30% by the Galeries Lafayette group. Citynove will be the asset manager of the operation until the renovated centre opens to the public in 2024.
Built in the 1960s and located in the Lyon area, in Bron, on the edge of the city's 8th district, the 27,500 sqm building now houses Galeries Lafayette, Monoprix and three other retail businesses. The building will be completely redesigned by the Moatti-Rivière architectural firm.
By 2024, this historic commercial complex will be transformed into a place adapted to new lifestyles. The new facade will open onto the city and will accompany an offer of renewed brands and services adapted to their ecosystem. In addition, the Galeries Lafayette shop, which will remain open throughout the project, will be redeployed in a smaller format that is better suited to the expectations of current customers.
