Codic Belgique announced the sale of its building, which has been pre-leased to Arval, to Integrale Zaventem Building SA, a subsidiary of the Integrale insurance company. The value of the transaction is in the region of 18 million, signed and sealed. The property has a total floor area of 4,700 m² of offices, plus a 500 m² workshop and 601 outside car parks.
The Arval building sold for approximately 18 million.
The building, still under construction, will be one of the first to meet the strictest standards in terms of sustainable development and BREEAM criteria. The BREEAM method of assessing buildings in terms of their environmental performance was developed by the BRE and is the oldest established and most frequently used system throughout the world.
The building itself has been fully pre-let to Arval Belgium, a subsidiary of the BNP Paribas group. Arval specialises in long-term leasing and management of company vehicles. This is the first stage in the development of Phase VI at the Ikaros Business Park in Zaventem. The plots of land for this final phase cover 2 hectares and are aimed at owner-occupiers or for "built to suit" developments.