The investment department of King Sturge Belgium has advised IRET Development on the sale of the Copernicus office building in Antwerp. The Copernicus office complex is located on the Copernicusstraat in the center of Antwerp, close to the central station and the Kievitplein.
The property has a total surface area of approximately 15,000 m² arranged over five floors and has 1,305 m² of archive space as well as 55 inside parking spaces and 102 outside parking spaces. The building was constructed in 1990 and has been refurbished in 2010. It was recently let to the VDAB, the Flemish Public Employment and Training Service, with an 18-year lease. The building is built in a 'U' configuration and leads to three different streets: Ploegstraat, Copernicusstraat and Lange Kievitstraat.
The building benefits from excellent accessibility: the main public transport connections are located within a minute's walking distance. Antwerp city is known internationally thanks to its attractive city center with excellent retail facilities, as well as its function as a central administrative area.
The transaction was concluded based on a yield of approximately 5.70%.
Source: King Sturge