Allianz Belgium has purchased the UP 36 office building in Brussels from Flemish investment company PMV for €27 mln.

Allianz Belgium has purchased the UP 36 office building in Brussels from Flemish investment company PMV for €27 mln.

Cushman & Wakefield acted as adviser to PMV on the sale, which took place at the end of December 2013. The transaction involved both the leasehold and the holding company UP 36 NV, owner of the freehold.

The tenant is the Flemish Community Education (GO!).

UP 36 - now also known as the Huis van het GO!- is located at 36 Willebroekkaai in 1000 Brussels (CBD North Station). It has total office space of 6,189 m2, 374 m2 of archive space and 31 parking spaces, spread over 11 levels. The property will be occupied by the Flemish Community Education's administrative offices on a 15-year lease.

PMV is an independent investment company that invests in the sustainable development of Flanders. It also supports and finances the real estate policy of the Flemish government.

C&W's Marc-Antoine Buysschaert advised PMV. 'UP 36 is part of Atenor’s UP-site redevelopment along the canal. This side of the North Station District is an up-and-coming area again and it is consequently no surprise to see that Allianz - which has an ambitious investment strategy - acquired this attractive investment opportunity.'