Sale of INAMI/RIZIV headquarters and Tervueren House to
KOLMONT and BELFIUS INSURANCE.
Cushman & Wakefield’s Capital Markets team successfully advised INAMI/RIZIV on the sale of its two office schemes located Avenue de Tervueren. Both sites will become obsolete after the move of INAMI/RIZIV towards the Galilée building located along the inner ring in the CBD of Brussels, where their new headquarters will be installed.
The INAMI/RIZIV headquarter (Tervueren 211 – Rue du Collège Saint-Michel 67; ± 20,200 sq m) is sold to KOLMONT whereas the full ownership of Tervueren House (Tervueren 249/255 – Rue du Collège Saint-Michel 17; ± 10,500 sq m), was transferred to BELFIUS INSURANCE recently.
Having advised exclusively on all latest public real estate transactions (Sale of Loi 66 on behalf of ONSS/RSZ, Sale of Trone 100 on behalf of FEDRIS, Acquisition of Royale 70 on behalf of Parlement de la Fédération Wallonie-Bruxelles), INAMI/RIZIV trusted Cushman & Wakefield to guide the sales instruction of their sites.
Cushman & Wakefield personalises each sales instruction according to the needs of the Owner. In this way, both sales were set up as a public tender. The sales processes have been structured in a very transparent way whereas all the information available on the opportunities was made available as from the beginning.
Structuring the sales as public tenders involved a very wide commercialisation through various channels such as advertising visually on the buildings, publishing in specialised magazines and reaching out to our client database. By this means, Cushman & Wakefield discussed the opportunities with approximately 200 candidates and more than 60 site visits were performed. This generated respectively 18 and 14 offers for the Headquarters and Tervueren House in the first bidding round.
A competitive second round achieved pricing of above €2,200/sq m for both sites, more than 15% above INAMI/RIZIV’s goal.
The transactions were closed on 05/03/2020 and 31/03/2020 respectively.
Liedekerke advised INAMI/RIZIV with the legal aspects of the sales.
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