AXA Belgium acquires “Galerie Kons” project in Luxembourg (LU)

IMMOBEL, BESIX RED and CLI sell the company that owns “Galerie Kons” project in Luxembourg to AXA Belgium.
The project comprises 20,500 m² above ground, including +/- 14,600 m² of offices, 2,400 m² of retail space and 3,500 m² of housing.
A surface of 10,000 m² offices has been pre let to ING through a long-term lease. ING will install its Luxembourg headquarters there as soon as the works are completed; this is scheduled for the 2nd semester of 2016.
1,800 m² of retail space have also been pre-leased to the current tenant, Primavera.
The transfer of the project to AXA Belgium represents a total investment volume in the order of €150 million.
Within the scope of its investment policy, AXA Belgium was attracted by the outstanding quality of the location (opposite the railway station), by the technical and environmental performance of the project, which is intended to achieve at least the BREEAM certification “very good” and by the long term presence of ING, which is a first rate tenant.
The transfer of the company is subject to the delivery and acceptance of the building and it is scheduled for the second half of 2016.
Source: Besix RED