On 27/04/2016 a usufruct agreement, for a fixed and irrevocable term of 21 years, was concluded with the European Parliament relating to the office building Montoyer 63 in 1000 Brussels that will be redeveloped. As of the date at which the current lease with the European Parliament ends, the building will be entirely demolished and rebuilt.
The building will comprise 6,052 m2 state-of-the-art office space and will meet the high technical demands expected by the lessee. Montoyer 63 is located in the Leopold district, amidst the European institutions, where there is currently a lack of new high-quality office buildings. The urban permit has been granted at the beginning of 2016 and the objective is to obtain a BREEAM 'excellent' certificate for this building at reception, foreseen in Q3 2018, date at which the usufruct agreement will enter into force. The European Parliament will house its training center in this brand new and centrally located building.
CBRE intervened in the realization of this transaction.
Jean-Louis Appelmans, CEO of Leasinvest Real Estate: "The realization of this important agreement is again a confirmation of the quality of the buildings in our portfolio. It also demonstrates how important targeted and specific real estate offers have become. We are very pleased with this deal that will substantially increase the duration of our portfolio."
For more information, contact:
Leasinvest Real Estate Leasinvest Real Estate
Michel Van Geyte Jean-Louis Appelmans
Chief Investment Officer Chief Executive Officer
T: +32 3 238 98 77 T: +32 3 238 98 77
Leasinvest Real Estate SCA
Regulated real estate company (B-REIT) Leasinvest Real Estate SCA invests in high quality and well-located retail buildings, offices and logistics buildings in the Grand Duchy of Luxembourg, in Belgium and in Switzerland.
At present the total fair value of the directly held real estate portfolio of Leasinvest amounts to over nearly € 870 million spread across the Grand Duchy of Luxembourg (54%), Belgium (41%) and Switzerland (5%). Moreover, Leasinvest is the largest real estate investor in Luxembourg.
The total portfolio is invested in retail (42.2%), offices (42.1%) and logistics (15.7%).The RREC is listed on Euronext Brussels and has a market capitalization of approximately € 500 million (value 10 May 2016).