What will certainly be the largest office transaction of 2013 in Belgium has just been concluded between KanAm Grund and the European Parliament thanks to the exclusive agency role of Jones Lang Lasalle. This new transaction will have a significant positive impact on the net take up of the Brussels office market.
Jones Lang LaSalle announces the closure of a usufruct agreement on the 'Square de Meeus' building by the European Parliament. This imposing office complex is situated as its name suggests at Square de Meeus 8-16 in Brussels, not far from the Parliament's headquarters and the debating chamber. In the heart of the European district, and with excellent public transport the building will welcome in the very near future new parliamentary teams. The building is a little over 40.000 m² in three wings of eleven floors. There is a private restaurant, a significant number of parking spaces a view over the gardens of the square. The ownership rights of the building are controlled by KanAm Grund, based in Frankfurt.
Christian Brode, Director, Head of Asset Management Leasing Global: ''We are delighted to welcome the European Parliament to the Square de Meeus. The quality of the building and it's unique location were the key elements in convincing our counterparties. Such operations as these, generating long term secure revenues fit in perfectly with the declared objectives of KanAm Grund. What is also remarkable is that we do not suffer the effects of vacancy between the departure of the old tenant and the arrival of the new one.''
''An exceptional result for this type of product, which has many attractive features'' underlines Jean-Michel Meersseman, Associate Director Office Leasing Agency at Jones Lang LaSalle.
Vacated at the end of 2012 by DG Research, the Square de Meeus will receive a serious rejuvenation in order to satisfy the requirements of its new occupier. The Parliament will take over the building at the end of the first quarter of 2014 once the works to be undertaken by KanAm Grund are complete.
KanAm Grund is a German investment company specialized in the management of open ended funds. Its core strategy is based on the acquisition and management of a premium porfolio composed of core assets in large international cities. Therefore KanAm Grund has assembled a network of buildings in prime locations. In Belgium apart from the Square de Meeus the fund controls the Kievit complex in Antwerp.
Real estate consultant Jones Lang LaSalle and law firm Clifford Chance were the exclusive advisers of KanAm Grund for this transaction.