TRIUVA Kapitalverwaltungsgesellschaft mbH has acquired a commercial and residential building in Brussels’ prime retail district for an individual mandate of a German insurance company. The seller was XL Finances, a company of the commercial property specialist GH Group. The purchase price is around €24m for the off-market deal.
The core retail and residential property with a total rental area of 2,900m² – consisting of 1,500m² of retail space, 100m² of office space and 1,300m² of residential space – is located at Chaussée d’Ixelles 60-68, a popular shopping strip within Brussels’ Louise district. The anchor tenant is the fashion label Bershka, which is owned by the Inditex Group. There are a number of other clothing stores in the neighbourhood. The property is almost 100% fully let.
The five-storey property was renovated to a high standard inside and out in 2014, and is one of the most beautiful buildings on Chaussée d’Ixelles with its classic façade. The property will face directly in front of the future Primark store notwithstanding the fact that the Louise area is one of the most sought-after residential areas for young people and expats in Brussels. All forms of public transport can be found very close by. The Chaussée d’Ixelles will also become fully pedestrianised in some years adding to its superb future rental prospects.
TRIUVA was exclusively advised by CBRE with Clifford and Chance and Drees and Sommer providing legal and technical advice.
