Rue de Solferino in Paris's smart 7th arrondissement has been synonymous in recent years with the headquarters of the Parti Socialist. Party management, policy meetings, selection of candidates, running election campaigns have all been orchestrated from the 3000 m2 office block.
And with some success: two presidents, several prime ministers, nationwide local governments. Until the disastrous 5 years under Francois Hollande. Failure to live up to promises, the president's own behaviour and a failure to grasp grass root concerns exploited by both far right and hard left, leading to internal divisions have effectively destroyed the party in this year's elections.
The building has been sold to a property developer known to build commercial centres in various European countries for around 45.5 million euros. What debts and mortgage payments the party will need to pay off may well erode that sum from the coffers.
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