Feature Articles / Development Continues in Lyon's Vast Business District
Development Continues in Lyon's Vast Business District - Lyon’s Part-Dieu business district is the second largest in France, after La Défense in Paris, and is still expanding rapidly.

Development Continues in Lyon's Vast Business District

Lyon’s Part-Dieu business district is the second largest in France, after La Défense in Paris, and is still expanding rapidly.
By locations4business
Lyon Economic Development Agency - ADERLY

A steady stream of investors is supporting the continual expansion of Lyon’s Part-Dieu business district, which encompasses a wide range of facilities and functions. The district accommodates the key economic functions of the Lyon area: local and state administrations, regional head offices of banking and insurance establishments, major corporations, and large consulting and engineering firms. Part-Dieu also offers an extensive variety of leisure services to the professionals and residents of the area, with facilities such as the largest shopping centre in central Lyon, the Paul Bocuse Gourmet Food Market, and top of the range hotels.

Indeed, this range is one explanation for the strength of the district, and the many new development projects that are currently being launched there suggest that Part-Dieu is at present one of the leading business districts in Europe.

Strategic Business Location

Part-Dieu is located in central Lyon, with easy access to the rest of France and Europe; the Lyon Part-Dieu high-speed rail station is one of the district’s main attractions for investors. The station provides fast service to both national and international cities, including Paris, Marseille, Geneva and Brussels, and the addition of further international destinations - such as Stuttgart, Milan and Barcelona – are currently in planning.

Part-Dieu is equally well connected by Lyon’s internal transport system, which links all of the business and leisure centres in the city and its outskirts. The district has been specifically designed as an area where many of Lyon’s public transport lines converge: the metro, three tramway lines (including the RhônExpress, which links the city centre to Lyon-St Exupéry international airport); 11 bus routes; two trolleybus routes; several taxi ranks, and many Vélo’v stations (city bike hire). The elaborate transport infrastructure in central Lyon reflects the city’s dedication to the continuing development and expansion of the Part-Dieu district.

Companies Resident in Part-Dieu

There are currently over 2,200 companies employing 40,000 people in Lyon Part-Dieu’s 900,000 sq m of office space. Present among them are the head and regional offices of leading banks (Dexia, Caisse d’Epargne, Société Générale) and top consulting firms (Ernst & Young, Oracle, Egis Groupe); the headquarters of Rhodia Polyamides, Rhodia Silices and Rhodia Silicones; and the international headquarters of a number of international groups, such as the April Group and Bluestar Silicones.

Property Investment Opportunities

The Lyon metropolitan area encompasses 4.9 million sq m of tertiary real estate, with approximately 200,000 sq m of net floor space being taken up by companies every year; 20% to 25% of this is in the Part-Dieu area. Part-Dieu is the only site in Lyon where all property types (traditional, high-rise, compact, renovated), excluding business parks, are planned.

Following the recent completion of major buildings such as the Oxygène Tower (28,000 sq m) and the Carat building (14,500 sq m), Part-Dieu’s property availability has developed in both volume and quality. The office space at Lyon Part-Dieu has an occupancy rate of 95% - its prices are around 50% to 60% lower than those in Paris: €250 to €300 per sq m in Part-Dieu, compared with €500 to €700 per sq m in Paris.

To meet demand, numerous property projects will expand Part-Dieu’s current office space to 1.5 million sq. m, which is over double its current size. This will offer the following future investment opportunities:

  • In 2012, the ‘Le Velum’ building will provide 14,000 sq m of office space in the Buire urban development zone.
  • By the end of 2012, 20,000 sq m of floor space will be available in the Lugdunum building, currently under renovation, in the Brotteaux district.
  • In 2013, the Eiffage property development programme will provide 11,000 sq m of net floor space.
  • In 2013, the Incity Tower will offer 40,000 sq m of office space.
  • The SKY 56 building will be complete in 2014, based on the principle of investors pooling resources and facilities in a 33,000 sq m project.

Continuing Developments Attract Investors

There are currently several urban development projects underway in Lyon, including a European city-planning project, which aims to re-design Part-Dieu in order to meet modern business needs, and to adapt the district for new uses.

With over 4.9 million sq m of business premises and an average uptake of 200,000 sq m total net floor area each year, the Lyon area continues to develop at a rapid pace, and is working hard to maintain its position as one of Europe’s most attractive locations for investors, through careful planning and cutting edge standards.

For more information about doing business in Lyon, please see Lyon ADERLY's listing.