Paragon acquires the iconic Romanel Centre shopping mall
Paragon continues its value-creation strategy with the acquisition of Romanel Centre, a well-known shopping center among Lausanne residents, located on a high-traffic thoroughfare. This partially vacant building represents a promising opportunity thanks to its strong redevelopment potential.
A Clear and Well-Structured Opportunity
“Romanel Centre presented an unusual profile: some vacancy, of course, but enormous potential thanks to its strategic location,” explains Yan Grandjean, CIO of Paragon. “We structured the acquisition with our banking partner in order to secure the necessary investments to restore the site’s full value.”
Located just outside Lausanne, with excellent road access and a high population density in its catchment area, the center boasts many strengths for a successful repositioning.
“Smooth Collaboration Between the Parties”
Vincent Leroux, Executive Director of CBRE Switzerland and representative of the seller, praised the quality of the process:
“Paragon acted with pragmatism and professionalism, enabling smooth collaboration between the parties. I’m pleased to see this iconic building getting a new lease on life following a competitive sales process.”
A New Beginning for Romanel Centre
Arthur de Rivoire, Head of Asset Management at Paragon and project lead, outlines the roadmap:
“We’re addressing structural shortcomings, particularly by improving access to upper floors. Current and prospective tenants are actively involved in discussions, each contributing to the new energy we aim to bring to the site.”
Redevelopment began during the acquisition phase, with a clear goal: to enhance the customer experience while meeting the needs of tenant businesses.
A Long-Term Vision
For Mike Wolfson, CEO and founder of Paragon, this acquisition perfectly reflects the group’s DNA:
“The acquisition of Romanel Centre illustrates our approach: identifying underutilized assets, transforming them, and creating lasting value with all stakeholders.”
