News

  • Sale of part of RAC-BELAIR Project (13,200 m2) in Brussels by Breevast and Immobel

    Amsterdam/Brussels, December 6, 2016 – Together with its partner Immobel, real estate developer and investor Breevast has completed the sale and transfer of part of the RAC-BELAIR project located in Brussels. The shares in RAC 2 N.V., the owner of the ‘Belair’ building, were transferred by shareholders Breevast (60%) and Immobel (40%) to the German investor REAL I.S. SMART. The underlying value of the property amounts to EUR 59M.

    Last July, an eighteen-year lease for the entire ‘Belair’ building Brussels was concluded with the Hoofdstedelijk Gewest (Brussels Capital Region). The office building, consisting of 9,500 m² office space, 3,700 m² archive space as well as 35 parking spaces, will be deployed part for part. As from the beginning of 2018 the building will house the new ‘Veiligheids’-hoofdkwartier (Safety Headquarters), consisting of the newly founded department Brussels Preventie & Veiligheid (Prevention & Safety, BPS) and several other related regional departments. The building has been awarded the BREEAM certificate ‘very good’.

    Last month, Breevast also divested its 60% interest in the residential part of the RAC-BELAIR Project to Belgian property developers Skyline en Group Minerva. The sale concerned the transfer of all the shares held by Breevast in the development comprising approximately 45,000 m2 apartments, 5,000 m2 retail, school facilities comprising circa 7,500 m2  as well as over 600 parking spaces. Co-shareholder Immobel (40%) did not dispose of its interest.

    Both the ‘Belair’ building and the residential section of the RAC-BELAIR Project form part of the comprehensive transformation of the former Rijksadministratief Centrum (RAC, State Administrative Centre), located strategically in the heart of the Belgian capital known as the Vijfhoek (‘Pentagon’). In total, the (re)development of the RAC-BELAIR site covers approximately 150,000 square meter and a parking garage consisting of 1,300 parking spaces minimum. Central to the transformation have been important guidelines like mobility, sustainability and mixing of functions.

    Adjacent to the RAC-BELAIR the Finance Tower is situated, an office building which is also owned by Breevast. The Finance Tower, comprising approximately 200,000 m2,  has been leased out to the Regie der Gebouwen (Buildings Agency) until 2035.
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  • Sale of Metropool Building in Amsterdam by consortium under management of Breevast

    Amsterdam, September 6, 2016 – A consortium led by Breevast has transferred the Metropool Building, located at Weesperstraat 61-105, Amsterdam, to an investment company of Standard Life Investments at a transfer price of approximately EUR 45 million. 

    The consortium bought the building consisting of circa 14.000 m2 in 2008, at which time the ground floor housed several retailers whereas part of the administration of the Amsterdam Municipality formed the main tenant of the office floors above. After the departure of the Amsterdam Municipality as a tenant in 2014 the building has been completely renovated, whereby a part of over 6.000 m2 was transformed to a Zoku extended stay hotel comprising around 130 rooms. The Zoku hotel opened in the second quarter of 2016. The remaining circa 6.000 m² were rented on a long term lease to a new branch of WeWork, an American flexible office space operator. HIGH 45 has started a ‘high intensity fitness studio’ on the ground floor.

    Through the sale and transfer of the building to Standard Life Investments the refurbishment and transformation of the Metropool Building has been concluded successfully. Apart from the majority shareholder Breevast the consortium effecting the sale consists of  Beleggingsmaatschappij Andantino and an investment company owned by the Ljungberg family from Sweden.
     

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  • Breevast and Immobel lease out last phase (13,200m2) RAC-BELAIR project in Brussels

    Amsterdam/Brussels, July 20, 2016 - Real estate developer and -investor Breevast has, together with its partner Immobel, completed  the last phase of the lease of the RAC-BELAIR project. Today, an eighteen-year lease for the entire ‘Belair’ building consisting of 9,500 m² of office space, 3,700 m² of archive space and 35 parking spaces was signed with the Brussels Capital Region. The ‘Belair’ building is held in RAC 2 N.V. whose shareholders are Breevast (60%) and Immobel (40%).

    With this lease transaction, the last square meters of office space in the RAC-BELAIR project are leased out. From November 2016 onward, the Brussels Capital Region will gradually move in with its new ‘Security’ headquarters in the ‘Belair’ building. These headquarters consist, amongst others, of the newly created division of the Brussels Prevention & Safety (BPS),. The ‘Belair’ building has a BREEAM 'very good' certificate.

    The ‘Belair’ building was developed on the site of the former Public Administration Centre, strategically located in the center of the so-called Brussels Pentagon. The building is part of the complete redevelopment of the RAC-BELAIR site of approximately 150,000 m2 and a parking garage with at least  space for 1,300 cars to park. For this redevelopment, key directives such as mobility, sustainability and mixing functions where base principles. The first phase of this project involved the redevelopment of approximately 80,000m2, leased to the Buildings Agency to accommodate the Federal Police. After redevelopment and leasing out, this first phase of the project was completed in March 2014 with the sale to Hannover leasing. Breevast is owner of the Finance Tower next to RAC-BELAIR as well, an office building of approximately 200,000 m2, which is leased to the Buildings Agency until the year 2035.
     

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