PARIS: McDonald's, long seen in Europe as the harbinger of Americanization, now plans to give its landlord on Paris's famed Champs-Élysées a taste of US-style compensation culture.
By suing over spiralling rents.
Since 1988 the burger behemoth's branch on the French capital's premier boulevard has been situated on the site of a mansion formerly belonging to the Rothschild family. From which hallowed ground it serves some 1.5 million fast-food collations annually.
While McDonald's has not revealed how much it pays, the identity of its landlord – or any further details of its lawsuit – it has stated that the rent for the site has doubled in the last five years.
Sébastien Perochain, a spokesman for the company's French arm, said: “We don't want to leave the Champs-Élysées. It's a very prestigious location. But the rise in rent has been spectacular.”
Big Mac's rent is estimated at €7,364 ($11,578; £5848) per square meter.
The Champs-Élysées is the third most expensive commercial property location in the world, lagging New York's Fifth Avenue and Causeway Bay in Hong Kong, according to real estate brokerage agent Cushman & Wakefield.
Data sourced from International Herald-Tribune; additional content by WARC staff