AM alpha has completed the acquisition of 21 Rue Eugène Ruppert, 2453 Luxembourg, a grade A office building in a prime location of Luxembourg Cloche d´Or. The purchase price was not disclosed.
Built and developed in 2002, the property was extensively modernised in 2016/2017 and was formerly home of the European Commission. The BREEAM in-use certificated four-storey office building offers exceptional flexibility and features 10,490m² of lettable office area plus 365 parking places. The main tenant “Government of the Grand Duchy of Luxembourg” has decided to use the building as their income tax administration for all cross-border workers from Germany, Belgium and France.
Cloche d´Or is Luxembourgs booming district and has been the focus of the city´s expansion. The new tramway passing through the Gare Centrale will connect the area at the end of 2022. The acquisition is AM alpha´s second in Luxembourg within 24 months and is in line with the company´s strategy to also fulfil needs for stable income producing assets located in the most attractive and liquid markets in the Eurozone.
Martin Lemke, Managing Director at AM alpha commented: “The Luxembourg economy has continued to expand rapidly and GDP growth strongly outpaced the euro area average. The number of cross-border workers and the population itself is set to rise further in the coming years. We are particularly pleased to have secured this asset in a strong investment market with a clear lack of available products and look forward to expanding our footprint in the Benelux markets while meeting the expectations of our investors”.
