Le mie ricette per la real estate communityHIH Invest Real Estate (“HIH Invest”) just sold an office building at Rue Royale 138 in Brussels to the Eaglestone Group (“Eaglestone”). HIH Invest acquired the property in 2011 on behalf of a closed-end real estate fund. Known as “The Crown Center,” it is located in the Pentagon District in the inner city. Out of the 9,000 square metres of the V-shaped eight-storey building, roughly 8,500 square metres are taken up by offices while over 500 square metres are used as archive area. The building, originally constructed in 1968, was thoroughly refurbished in 2001 and 2002. Its sole tenant is the federal Belgian agency, Régie des Bâtiments. Following the end of the current tenancy, Eaglestone is planning to modernise and restructure the office scheme with a focus on sustainability. In future, the building will combine the use types office and residential. The transaction took the form of an asset deal.
The property occupies a downtown site embedded in a mixed-use neighbourhood of offices, restaurants, cafés, retail and leisure venues. “Restructuring the building will give the buyer a chance to reposition it while taking the environmental guidelines of the City of Brussels into account at the same time,” Brodesser explained.
The “Crown Center” is located inside the administrative and historic core of the Belgian capital and main institutional seat of the European Union. The central railway station (Gare Central) is only a six-minute walk (500 metres) away. The site is also very easy to reach by public and private transportation. A number of government buildings are located in the vicinity, as is the Parc de Bruxelles.
Image rights and Source : HIH Invest Real Estate.
