Osborne Clarke France advised the international art gallery Hauser & Wirth on a major off-plan commercial lease agreement (“bail commercial en l’état futur d’achèvement”) for its new gallery in a 19th Century neo-classical hôtel particulier located in the golden triangle of Paris, between Avenue Montaigne and the Champs-Élysées.
Located at 26 bis rue François 1er and spread across approx. 800 sq.m and four floors, Hauser & Wirth’s Paris gallery will include a six-m-high ground floor exhibition space and a further one upstairs on the first floor. From 1955 to 2018 the building was the headquarters of the radio station Europe 1, one of France’s most popular networks. Before that, it was once occupied by the decorative arts gallery La Maison Decour until the 1940s. Hauser & Wirth will rent the space from investment fund Ardian, through its Real Estate activity, that bought the building in 2018 from Lagardère Group.
Hauser & Wirth continues a longstanding commitment to supporting the cultural and architectural heritage of the communities where it is present. Its new Parisian space will be designed by Paris-based architect Luis Laplace, who has worked closely with the gallery since 2013 on several projects that have sensitively restored architecturally significant buildings.
Hauser & Wirth global presence currently includes 14 exhibition spaces spread across Switzerland, the U.K., the U.S., Hong Kong, Spain, and Monaco.
Partner Stéphane Catays and Senior Associate Franck-Olivier Klein, from the Real Estate Team, advised on the transaction, alongside with Partner Alexandre Le Mière and Senior Associate Lénaic André, from the Planning Team.
Ardian was advised by Linklaters, with Partner Françoise Maigrot and associate Farah Alabed.
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