Forum Sold to the Belgian House of Representatives
7 Jan, 2010, Brussels
On 18th December 2009, the House of Representatives of Belgium, and the Company IMMOBEL SA, have signed a sales agreement under conditions precedent, that concerns the sale of the real estate complex FORUM, located in the area formed by the “rue du Parliament”, the “rue de la Croix de Fer, the “rue de la Presse” and finally the “rue de Louvain”. Should this condition precedent regarding the complementary urban permit(s) be granted, the value of this transaction will amount to 139.500.000 EUR (VAT excluded).
The project FORUM, developed by IMMOBEL, has a total above ground surface of 43.000 sqm and 12.000 sqm under ground. It consists of three phases :
• Phase I, a new office building shall be ready during the first quarter of 2010.
• Phase II, a new building , which includes offices to shell and core, which will be furbished directly by the House of Representatives and will be available in the first half of 2013.
• These two first buildings apply the most modern techniques, amongst others things, regarding sustainable development requirements.
• The third phase concerns the delivery, which will occur after the removal of the asbestos in the building located rue de Louvain and rue du Parliament. This is planned for mid 2011.
For this transaction IMMOBEL was advised by the broker Cushman & Wakefield.
For Gaëtan Piret, Immobel’s CEO, this sale most probably is the largest real estate sale made during 2009 on the Belgian real estate market. He is very pleased by the success of this emblematic project which represents the renewal of IMMOBEL based on mutually respectful relations and which includes major social imperatives.
For more information: Gaëtan PIRET sprl, Chief Executive Officer T. +32(0)2 422 53 21 or +32(0)2 422 53 93 firstname.lastname@example.org