ION Residential Platform (IRP) acquires 100% of the shares of Calevoet Land, the company owning the Archipel residential scheme in Uccle, Brussels, from developers LIFE and Miix. The project concerns the redevelopment of the former AstraZeneca office building and will offer 126 sustainable apartments.
IRP, the joint venture between ION, Bouwinvest and CBRE IM, is focused on sustainable and affordable rental housing in Belgium. They are acquiring 100% of the shares of Calevoet Land in a forward purchase agreement. Delivery of the project is scheduled for the first quarter of 2027.
The site is located in an attractive residential area in Uccle, in the South of Brussels, one of the greenest areas of the capital region, with the Sonian Forest, The Bois de la Cambre and a number of parks located nearby. Thanks to its location close to the Calevoet train station, the Brussels city centre is just 15 minutes away.
“This was an exciting opportunity to acquire a state-of-the-art and highly sustainable residential project on a strong location in Brussels. We firmly believe in the fundamentals of the Brussels rental market, which remains undersupplied. This is our largest transaction to date and marks another milestone as we continue to expand our Belgian build-to-rent portfolio,” said Sam Bordon, Head of Investment at ION
The project, designed by architectural practice & bogdan, will consist of 126 apartments across 5 blocks and up to 5 storeys in height, as well as 1,176m² of commercial areas. The apartments range from studios to 4-bedroom apartments, with sizes from 51m² to 156m², all with outdoor terraces. As such, a wide range of tenants will be targeted.
"After our partnership in the realization of the project 'The Bunch' in Antwerp, we are particularly excited to collaborate with IRP for the second time. This transaction proves that it is possible to fully focus on quality of life and value creation, without making any concessions on sustainability, quality urban planning, and high-level architecture. Archipel ticks all the boxes of the Be Sustainable tool from Bruxelles Environnement. Thanks to its innovative concept, it is undoubtedly an important residential showcase project — not just for Brussels, but for all of Belgium," said Toon Haverals, Managing Partner of LIFE
"It is wonderful to see that we are reaping the rewards of our quality approach. The differentiated and sustainable supply of residential units within walking distance of various public transport amenities perfectly responds to the growing demand for rental apartments. Furthermore, the integration with the commercial functions and the connections to the Keyenbemptpark add value to the entire station neighborhood. Specifically for Miix, this is a flagship project that we are extremely proud of, as it is also our first project under construction. We would like to thank all our partners involved," said Darel Torremans, Managing Director of Miix.
The residential units will be very energy-efficient, fitted with geothermal heating and photovoltaic panels. The adjacent Keyenbempt Park will be extended onto the project site, ensuring the buildings are harmoniously embedded in a communal park environment. This will contribute to the project’s strong ESG credentials and will also be a major asset for future residents.
ION Residential Platform was advised by Stibbe (legal), PwC (tax) and Alias (technical). LIFE and Miix were advised by Linklaters (legal) and Clifford Chance (tax). The value of the deal is not being disclosed.
Image source - ION Residential Platform.
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