CBo Territoria signs a strategic partnership with Ilop Réunion for its Outdoor business
CBo Territoria has signed an agreement for Ilop Réunion, represented by Stéphane André, to acquire a 40% stake in the Group's Outdoor business, which Mr André has managed since 2007. Stéphane André is the founder of events and communications company Ilop Réunion, whose work includes communications for the Grand Raid ultramarathon that takes place on Réunion Island. The deal demonstrates the confidence that the two partners have in developing CBo Territoria group's leisure business.
The Group's Outdoor business consists of operating the following three event locations:
- The Bassin Bleu Country Club (BBCC), which features one of Reunion Island's two 18-hole golf courses and one known for the technical challenge it presents to golfers. The BBCC, which also features a sports and events complex, is located in the hills above the Saint-Gilles-les-Bains beach resort on the west coast of the island (www.bassinbleu.fr). The BBCC has 600 members and a vibrant golf school, and also offers a wide variety of additional activities including business events, conferences, aquabiking and a wellness centre. In addition, its well-known restaurant has a panoramic view of the ocean and mountains. The BBCC is located five minutes from the Route des Tamarins (a four-lane road that connects the north and south of the island), and is one of Réunion Island's premier event locations. Close to the BBCC, the Group is working on a residential development featuring 90 plots offering a panoramic view of Saint-Gilles Bay and its fabulous lagoon;
=> Stéphane André presents the Bassin Bleu golf course: watch the video.
- The Jardin d'Eden, Reunion Island's first ethnobotanical garden, located in the heart of the St-Gilles l'Ermitage beach resort (www.jardindeden.re). Created in 1991 by Philippe Kauffmant, an agronomist with a passion for botany, the park has since developed into a lush, exotic garden featuring more than 600 species. The Jardin d'Eden is an educational attraction for all the family featuring plant species endemic to Réunion Island, animal species such as chameleons and tangs, and a learning centre dedicated to beekeeping. With almost 30,000 visitors per year, the Jardin d'Eden also makes its outdoor spaces available for hosting business, cultural and family events. Highlights in 2022 have included the Réunion Island garden show in conjunction with the island's Union Nationale des Entreprises du Paysage (national association of landscaping companies) and Union des Horticulteurs et Pépiniéristes (association of gardeners and nurserymen), along with the BMW Jumping Cup, an important event in the island's equestrian calendar. The Jardin d'Eden is an essential component of CBo Territoria's future tourism plans, which it is developing within a 35-hectare plot of building land located nearby;
aerial view of Cbo Territoria's lands in the west area
- The Beauséjour Sport Club (BSC), which opened in 2016 in the hills above Sainte-Marie to the east of Saint-Denis (www.bsc.re). The BSC is located at the entrance to the sustainable town of Beauséjour. CBo Territoria transformed the town's stormwater basin – vital for managing rainwater in a tropical environment – by developing a driving range there, allowing golfers in the north of the island to practise their sport. Halfway up the hills, the BSC is now an exceptional setting for a multitude of sporting activities with a driving range and indoor golf simulator, along with tennis, squash and outdoor gym facilities. It also has a bar and restaurant with an unrestricted view of the Indian Ocean, along with spaces for events such as conferences, weddings and baptisms. The site will benefit from future development of the district, including the final phase of residential development (800 plots) and the installation of services.
“The Group is once again showing its confidence in Stéphane André – who has already been managing these three facilities for many years – and welcomes his investment via Ilop Réunion. This will enable him to contribute even more to the development of these activities, which generated revenue of €3.5 million in 2021,” said Eric Wuillai, Chairman and CEO of CBo Territoria.
After the sale of a 40% stake in the three operating companies to SARL Ilop Réunion, the Outdoor division, previously fully consolidated, will be accounted for under the equity method from 1 January 2022, as shown in CBo Territoria's financial statements for the six months ended 30 June 2022. Income from these activities – mainly comprising their revenue minus personnel expenses and operating expenses – will from now on be presented on the “Income from associates” line of the income statement, which will give greater clarity to income from the Property Investment and Property Development businesses.
2022 financial calendar
First-half revenue: Wednesday 17 August (after the market close)
First-half results: Tuesday 13 September (after the market close) – Presentation meeting: Wednesday 14 September
About CBo Territoria (FR0010193979, CBOT)
CBo Territoria has been a leading player in Réunion Island's property market for almost 20 years, with 4,200 residential plots including 3,300 homes and almost 190,000 m2 of developed office, retail and workshop space. It has become a multi-regional development company specialising in commercial property (€301 million at the end of 2021, making up 80% of its total assets). The Group operates across the whole property value chain (Amenities, Property Development and Property Investment) and is continuing to grow both by developing its existing land and by acquiring new plots. CBo Territoria finances its growth partly through its Property Development business – both residential (multi-family properties and plots of land) and commercial – and through the planned disposal of its remaining residential assets (valued at €43 million at the end of 2021) to SHLMR.
CBo Territoria is a yield-focused property investment company that is listed on Euronext Paris (compartment C) and is eligible for French PEA PME tax-efficient equity savings plans.
Since it was founded, CBo Territoria has been a responsible company committed to a more sustainable property sector. For six years now, it has been in the Top 10 (compartment C) of the Gaïa Index, the French benchmark index for small and medium-sized companies showing the greatest commitment to CSR (corporate social responsibility).
For more information, visit cboterritoria.com
Caroline Clapier – Chief Financial and Administrative Officer - firstname.lastname@example.org
Agnès Villeret - Komodo - Tel: +33 (0)6 83 28 04 15 - email@example.com
Finance: Agnès Villeret - firstname.lastname@example.org
Corporate - Paris: Dina Morin - email@example.com
Réunion Island: Catherine Galatoire - Tel: +33 (0)6 92 65 65 79 - firstname.lastname@example.org