Real estate

Groupe ADP and André Chenue S.A to set up an artworks conservation centre at Paris-Le Bourget Airport

Groupe ADP - acting as land developer, joint-investor and joint-operator - and André Chenue S.A a Horus Finance subsidiary) - acting as joint-investor and joint-operator - have signed a promise to lease and a commitment to lease before completion for an artworks conservation centre to be built at Paris-Le Bourget Airport. The two partners will create two joint-ventures companies: one in charge of the investment and the other responsible for its operation. 
The design and construction of the building have been entrusted, through a property development contract, to GSE Group. The latter, drawing on its experience of logistic projects, will start construction during summer 2018, with turnkey delivery of the building scheduled for mid-2019.
East view of the future storage and conservation centre for artworks at Paris-Le Bourget Airport © GBL Architectes

Located at the east end of Paris-Le Bourget Airport - Europe’s leading business airport, just 7 km from Paris - this building is the first in France to be constructed specifically for this purpose. Designed by architectural firm GBL Architectes, it will provide vast storage and conservation spaces that meet the highest international standards, to serve the owners of artworks and professionals from the world of culture. It will position the aviation cluster at Paris-Le Bourget Airport also as a hub for the art world and a showcase for the "Grand Paris" projects.  
In line with its property-development goals, driven by its Connect 2020 strategic plan, Groupe ADP is acting as both investor and operator in this real estate project. As sponsor of the airport city, Groupe ADP is enhancing the value of its land reserves and reasserting its major role in developing the Paris region airport system, which creates wealth and jobs throughout the entire region.

Augustin de Romanet, Chairman and CEO of Groupe ADP, had the following to say: 
“Groupe ADP is delighted to build this partnership with André Chenue. Thanks to this centre for the conservation of works of arts at Paris-Le Bourget Airport, the major museums will be able to avail of a specialist facility providing a great deal of storage space, located close to Paris. The city's art galleries and exhibitions will also have the benefit of a secure, cutting-edge logistics hub with easier access to the runways and customs services.
This project contributes to the influence of Paris, enhances its place in the global art market, and support the economic and cultural development of the Grand Paris projects. It attests to our will to encourage the setting-up of partners at our airports to develop innovative and value-creating property assets with them.”
Julien Da Costa Noble, CEO of André Chenue S.A, added:
“André Chenue is proud to announce the upcoming opening of the conservation centre for collections at Paris-Le Bourget Airport, in partnership with Groupe ADP. This facility will boast 24,800 sq. m. of storage space, kept dust-free by airlocks and an extraction system protected against fire by an approved oxygen-reduction system, and secured against break-in by the highest standard of security. The storage areas will be customised and equipped to suit clients’ requirements.  It will also offer facilities and services for the restoration of artworks and the conservation of fashion collections of great heritage value.
This building at Paris-Le Bourget will be the first in France specifically designed for the conservation, protection, and logistics needs of artworks for museums and large private collections. Although not yet achieved, it has already been chosen by major clients in search of a facility near Paris that offers easy logistical access, museum-standard storage, and services such as disinfestation, control-room and specialised packaging and transport for works of art. Through this investment in partnership with Groupe ADP, André Chenue is delighted to bolster the attractiveness of Paris and the region in the eyes of international players in the world of art and culture". 

West view of the future storage and conservation centre for artworks at Paris-Le Bourget Airport
© GBL Architectes
      Technical data:
  • Investors: Chenue (60%) and Groupe ADP
  • Developer: GSE group
  • Operators: Chenue (60%) and Groupe ADP
  • Architect: GBL Architectes
  • Land use: 7,700 sq. m.
  • Total floorspace of the building: 24,800 sq. m. on four levels
    -  Phase 1: 12,200 sq. m.
    -  Phase 2: 12,600 sq. m.
  • Work to begin: Summer 2018
  • Scheduled opening (phase 1): Summer 2019

About Groupe ADP

Groupe ADP builds, develops and manages airports, including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. In 2016, the Group handled via Paris Aéroport more than 97 million passengers and 2.2 million metric tonnes of freight and mail at Paris-Charles de Gaulle and Paris-Orly, and more than 42 million passengers in airports abroad through its subsidiary ADP International. Boasting an exceptional geographic location and a major catchment area, the Group is pursuing its strategy of adapting and modernising its terminal facilities and upgrading quality of services; the Group also intends to develop its retail and real estate businesses. In 2016, Group revenue stood at €2,947 million and net income at €435 million. Registered office: 1, rue de France, 93 290 Tremblay-en-France. Aéroports de Paris is a public limited company (Société Anonyme) with share capital of €296,881,806. Registered in the Bobigny Trade and Company Register under no. 552 016 628.

About André Chenue SA

André Chenue, a family firm established in 1760, is the European leader in logistical and storage services for artworks. Since 1760, André Chenue’s work has been carried out by men and women who are driven by the desire to deliver a service of the highest quality. With existing facilities in France, Germany, Switzerland, and Brazil, André Chenue is committed to pursuing its international growth. Building on its strong reputation and renowned service quality, André Chenue intends to become the benchmark for innovation and quality for its private and institutional clients. André Chenue SA, a joint-stock company under French law with registered capital of €614,100. Registered office: 151 boulevard Haussmann - Paris 75008. Paris company and trade register number B 379 028 178.


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