28 may 2021
12:43
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The project developer Immobel is selling the Commerce 46 building in the European district for 120 million euros to the German insurer Allianz.
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Immobel strikes a big deal in the European quarter. The Brussels developer is selling the Commerce 46 building on the corner of Rue Belliard and Rue Handelsstraat to Allianz Real Estate. The real estate branch of the German insurer is reportedly paying Immobel EUR 120 million.
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Immobel only bought the outdated building at the end of 2018 of the Jewish diamond merchant family Pluszenik. Immobel completely demolished the building and built a ‘flagship building that should symbolize real renewal’, including a garden and two roof terraces. In the third quarter of 2022, the glitzy glass new building, which comprises twelve floors and an area of 14,200 square meters, should be ready.
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European Quarter
We strongly believe in the Leopold district.
Adel Yahia
Director Immobel Belgium
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For Immobel, the purchase of Commerce 46 three years ago marked a return to the European quarter. At the end of 2020, Immobel also bought the old headquarters of the energy giant Total in Rue de la Loi. ‘We believe very strongly in the Leopold district’, says Adel Yahia, director of Immobel Belgium. ‘There is little vacancy and a very healthy dynamic. It’s simply the best neighborhood. And we expect a lot of demand from institutional investors for prime locations with tenants in the coming years.’
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The European Commission, a crucial player in the district, is currently thoroughly rethinking its office policy. This week confirmed the institution that they Due to the growing popularity of working from home, only half of its 50 office buildings in the capital are left by 2030. The Commission wants to centralize its services in more spacious and modern office buildings in the European Quarter, and possibly also in the North Quarter.
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