New lease for an entire floor in the building Mercator
Leasinvest Real Estate has just concluded a new rental contract for 1,933 m2 (entire 3rd floor), with CHL – Centre Hospitalier de Luxembourg, current tenant of a floor since last year, in the building Mercator-High 5! located Route d'Arlon 110-112 in the Grand Duchy of Luxembourg. The rental contract has started on 1 June and will consequently contribute for 7 months to the rental income of the financial year 2021. The annual contractual rent amounts to € 0.5 million. Following this newly concluded rental contract, the occupancy rate of the building improves from 55% to 78%.
The building Mercator-High 5! has a total surface area of 8,641 m² of offices, spread across 5 floors, with 104 parking spaces, and benefits from an outstanding location in the capital of the Grand Duchy alongside the route d’Arlon, one of the main entry roads to Luxembourg City. The building, rebranded to High 5!, is currently being renovated in order to align it to the needs of a young and dynamic public. At present, the 2nd floor is being integrally renovated and its commercialization has started. The entrance hall and the façade will also be renovated.
This transaction has been realised by the intermediary of Cushman & Wakefield.
Michel Van Geyte, CEO: “This new additional lease to a current tenant again proves the success of our investment strategy, aiming at optimising our well-located buildings and the introduction of new concepts that perfectly match the needs of current users.”
For more information, contact
Leasinvest Real Estate
MICHEL VAN GEYTE
Chief Executive Officer
T: +32 3 238 98 77
On LEASINVEST REAL ESTATE SCA
Leasinvest Real Estate SCA is a Public BE-REIT (SIR/GVV) that invests in high quality and well-located retail buildings and offices in the Grand Duchy of Luxembourg, Belgium and Austria.
At present, the total fair value of the directly held real estate portfolio of Leasinvest amounts to € 1.13 billion, spread across the Grand Duchy of Luxembourg (56%), Belgium (28%) and Austria (16%).
Moreover, Leasinvest is one of the most important real estate investors in Luxembourg.
The public BE-REIT is listed on Euronext Brussels and has a market capitalization of approximately € 439 million (value 9 June 2021).