Home Invest Belgium, has sold two non-strategic properties in Ghent and Liege for €6.6m.
The building in Ghent is located at Woodrow Wilsonplein. It concerns 18 units on the 4th and 5th floors that are part of a co-ownership (the complex Gent Zuid). Home Invest Belgium acquired these units back in 2011.
The building in Liege is located at Rue St. Hubert number 4 and comprises 14 units. Home Invest Belgium acquired this building in 2007.
The annual contractual rents amount to €250,000 for the two properties together. The net sales price is 48% above the fair value as last estimated by the real estate expert (€ 4.5m) and 48% above the acquisition value (€ 4.5m).
Preben Bruggeman, CEO: "The sale of these non-strategic buildings fits in the company's sustainability policy. More than 50% of the investment properties available for rent are less than 10 years old; more than 80% are less than 20 years old. Together with the previously announced sale of the City Gardens property in Leuven, Home Invest Belgium has already sold more than €40m worth of investment properties in 2024. These are properties that have been part of the portfolio for a very long time. At the same time, Home Invest Belgium is investing strongly in its development pipeline. Home Invest Belgium is looking for new investment opportunities to further expand its property portfolio in a sustainable way."
Image source - Pexels.
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