Icade plans to redevelop 29-33 Champs-Élysées by 2025

The Gaumont Marignan on the Champs-Élysées closed at the end of 2023 and will not be reopening. "We have reached an agreement with the Pathé group and the City of Paris," explains Emmanuelle Baboulin, director of real estate at Icade, owner of the building at nos. 29-33. "For months, our overall project was imagined and worked out with this renovated cinema, but the theaters could no longer be adapted to the technologies that are evolving so rapidly in this sector! It's true that attendance was down. But wasn't it also a question of rent, as with other cinemas that have had to leave the avenue in recent years, unable to keep up with their landlords' revaluations? We didn't have to talk about the rental issue," replies Emmanuelle Baboulin. "Quite simply because it's a 1930 Art Deco building, under the supervision of the Architectes des Bâtiments de France, the Commission du Vieux Paris and the Conservation du Patrimoine. The obligation to preserve certain historic structures, such as large beams, bays and posts, meant that we couldn't design new rooms with Pathé. In the same way, we had thought of a hotel and a restaurant on the roof, but venues such as these, which are open to the public, imposed technical requirements that were incompatible with the conservation of certain old elements. It took several years to finalize the application for planning permission, due to the numerous exchanges to take these constraints into account.