Cofinimmo has signed a purchase agreement for 100% of the shares of Amca SA, owner of a plot of land situated on Noorderplaats in 2000 Antwerp, in the harbour district (Eilandje), right across the Willemdok. An office building (Avenue Building) of about 10,000m² and 200 parkings will be built on this land.
This project represents the last phase of an important development including office building, luxurious apartments and a hotel. The building, which will be composed of 7 floors, will be functional and very modern. It will be equiped with all high-end technologies and will guarantee an optimal energetic performance. The site, situated between the city centre and the harbour is easily accessible from the Antwerp Ring, the Waaslandtunnel or the centre.
Cofinimmo has undertaken to acquire the shares of Amca SA after delivery of the works foreseen for 2009. The expected initial rental yield will be between 6.10% and 7.11%, depending on the type of lease contracts and their duration. The investment value will be around €25 million. The intermediary for this transaction was Colliers-EPMC SA.