Retail investor ProWinko has taken control of the celebrated Heron project on the avenue de la Toison d'Or in Brussels, from the English development company bearing the same name. This project had been in the Heron group portfolio for a considerable amount of time, but had not got past the detailed plan, building permit, and demolition of the existing 6,500 m², stages.
ProWinko intends to remain within the broad principles of the current project, constructing around 8,000 m² of retail space, a hotel of some 120 rooms and approximately 60 apartments.
ProWinko is no stranger to Ixelles, where the project is located. They have recently renovated the Adrienne project, next to the Heron project, and have brought in new tenants including Esprit, Geox, Pulp and a major restaurant on the upper floors. They have also redeveloped the vacated Inno
and empty Pathé Empire cinema located on the Chaussée d'Ixelles.
The objective now is to start discussions with all the parties concerned and with the relevant authorities as quickly as possible, so that work can begin without delay.
The transaction between Heron and ProWinko was negotiated through Cushman & Wakefield Healey & Baker (C&W/H&B) and legal assistance was provided by the Lieven Peeters team from Linklaters De Bandt.