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15 March 2019 Comments (0) Atenor, Other, Real Estate

Investment beats every record in 2018

The business property sector in Brussels reached new heights in 2018. Close to 4.8 billion euros were invested according to JLL, 5.1 billion according to Cushman & Wakefield.

2018 was probably the best year in the history of the Brussels investment market with total volumes reaching five billion euros. With the sale of three shopping centres at the beginning of the year (Docks Bruxsel, Woluwe Shopping Centre and Rive Gauche), retail did very well, reaching the 1.6 million mark. However, the office sector (peaking at 1.9 million just a few months ago) quite literally won an end-of-year sprint with some impressive transactions.

One example: The sale of Atenor ‘The One’ building in the European district (29,511 m² delivered in 2019). The German company Deka Immobilien Investment, which manages several funds and is already on the Belgian market, won the bid for an estimated net amount of 150 million according to Cushman. This amount should increase further if the European Commission signs a long-term lease, as hoped.

AG Insurance, for their part, has parted with the 40% that it still held in the Woluwe shopping centre (100 million by Eurocommercial Properties). In the capital, the Tour de l’Hôpital (62 million by Quilvest and Arax Properties) and the Serenitas and Moulin à Papiers buildings (27 million by BPI Real Estate) are also worth a mention. Finally, on 28 December, Equilis gained a second footing in the office category. It concluded the purchase, via DuoDev (Mulliez and Mestdagh), of a 7,280 m² building located at 100 Rue du Trône, in Ixelles. The vendor was Fedris. The building will undergo refurbishment by Assar Architects. With the exception of the two first floors, it will still be used for office space. It should be noted that it is already thought that 2019 will be generally less successful in terms of investment, as the pipeline of property for sale is very slim.

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