Leasinvest acquires a top location in the city center of Luxembourg (LUX)

Leasinvest Immo Lux SA, a 100 % subsidiary of Leasinvest Real Estate SCA, located in Luxembourg, has acquired on 5 December 2012 an existing building used as a hotel (known under the name Hotel Rix), with parking, at the important boulevard Royal in the city of Luxembourg.

After the demolition of the Hotel Rix (which has recently stopped its activities) a new office building of circa 5,000 m² that will meet high energy performance standards will be built at this top location, subject to obtaining the necessary permits. Except for unexpected circumstances, the building should be operational by end-2014.

The architecture of the future office project will be designed by Christian de Portzamparc, architect and urban planner, renowned throughout the world, who received the Pritzker Prize in 1994 and who realized the Luxembourg Philharmonic in Luxembourg City. With his team he works on a wide variety of ambitious projects with an international dimension. This project will have unique characteristics to both its design and its functionality.

Jean-Louis Appelmans: "This office development fits within the strategy of Leasinvest that can be considered to be one of the main investors on the Luxembourg real estate market. This well-located project is the logical combined result of our knowledge of the Luxembourg real estate market acquired over the last 4 years and of our experience in similar successfully realized redevelopments in Cloche d'Or and avenue Monterey in the city of Luxemburg. This unique project will define, together with the Royal-Hamilius project, the future look of the boulevard Royal."

This transaction has been achieved through the intermediary of Hoche Partners and Property Partners. Through this acquisition the relative part of Luxembourg (currently yet over 50%) in Leasinvest Real Estate's global portfolio will further increase.

Source: Leasinvest Real Estate

Related News