Savills Investment Management has acquired an office building in Brussels for €173m on behalf of an unnamed foreign investor.

The asset at 1 Boulevard du Roi-Albert 2 was acquired from AXA and its tenant Euroclear as part of a sale and leaseback.

The fully leased building is situated on the fringe of Brussels North and central business district, near the Petite Ceinture.

Built in the 1990s, the complex covers 36,000sqm and was renovated between 2017 and 2018.

Pierre Escande, head of investment for France, Belgium and Luxembourg at Savills Investment Management, said: “We are delighted to have completed this new acquisition within just a few months despite the challenges posed by the pandemic.

“It demonstrates Savills IM’s ability to position itself in the market for significant and iconic core office assets. Belgium, and more specifically Brussels, remains at the heart of our investment strategy for 2021, both for our funds and dedicated mandates.”

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