French State Seeks Private Partner for Versailles' Former Royal Convent

The French government is abandoning its plan to sell the former Couvent des Récollets in Versailles and instead intends to lease it to a private partner under a very long-term lease. The military, which currently occupies the building, will transfer it to a private entity through a bail emphytéotique, a type of long-term lease that can last up to 99 years. This shift reflects the state's broader real estate policy of divesting from historic properties while retaining ownership. The Couvent des Récollets, a 17th-century former royal convent, has been used by the army for decades. The decision follows failed attempts to sell the property outright. The project is symptomatic of the state's strategy to involve private capital in managing public heritage assets, a trend seen across France as the government seeks to reduce maintenance costs and generate revenue.