107 Bd Ney,
Paris 18^e

The 18th arrondissement — home to Montmartre, Sacré-Cœur, and some of the most photographed streets in Europe — draws 18 million visitors annually, making it one of the top five tourist destinations in the world by footfall.

Hotel supply remains structurally constrained. The Montmartre district has fewer than 1,200 hotel beds, with no new significant supply delivered in the last decade. Planning restrictions, heritage protections, and heritage conversions limit new entrants.

Lume is Infill Capital's proprietary hospitality brand — a design-led capsule hotel format positioned between traditional hostels and boutique hotels. Each pod is a private, immersive sleeping environment with hotel-grade finishes.

107 Ney's 2,440 sqm of usable space will accommodate 380 capsule pods across 6 operational floors, with a ground-floor lobby, café, and social common space.

The basement and lower ground levels (parking excluded) offer a natural self-storage opportunity — an adjacent, operationally simple revenue stream with strong Paris market demand.

The lower floors of 107 Ney (approximately 700 sqm of lower-ground space excluded from the hotel conversion) are ideally suited for a self-storage operation — a high-demand, operationally simple asset class with strong yield compression in Paris.

ICP's strategy is to fit-out the lower floors as a managed self-storage facility, stabilise occupancy over 12–18 months, then dispose of this section for €4.7M — converting a CapEx cost into a meaningful return event in Year 2 or 3.

This is not speculative. Paris self-storage demand significantly exceeds supply across the inner arrondissements. A stabilised facility in the 18th would trade at a sub-6% yield on a clean title disposal.