AXA Belgium acquires 35% of Centre Communication Nord

15 May, 2008, Belgium

Belgocontrol has sold the part of the property it owned in the CCN (Centre de Communication Nord) complex in rue du Progrès in Brussels to AXA Belgium.

Belcontrol owned an area containing 19,900 m² of office space, 1,386 m² of filing area and 145 parking spaces on floors 1 to 5 of the building, that is, most of the lower part of the building over the Gare du Nord.

Half of the 19,900 m² are leased out to Région de Bruxelles-Capital and half to the Régie des Bâtiments, under long-term leases.Région de Bruxelles-Capital is also the largest joint owner (60%) and occupier of the complex. The share that Belgocontrol has sold to AXA Belgium represents around 35% of the total. The rest is owned by the Post Office and the SNCB railway company.

The sale was made through Cushman & Wakefield, acting under exclusive mandate. It made a call for tenders to both Belgian and international investors.The investment amounted to 50,110,220 EUR.

CCN is a building located over the Gare du Nord station, at the heart of an important business district.The complex, built in 1975 and extended in 1992, is right alongside an essential hub of communications for Brussels and Europe. The structure is top-quality and has huge floors measuring almost 5,000 m² ,offering optimal, modular organisation of space.The central location of the building and its easy access to public transport is in line with AXA’s long-standing policy of providing Financial Protection in a responsible fashion.

AXA Belgium bought the property for its excellent location, the quality of construction and the stability of the leases (assured until 2014).

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