Benelux-focused landlord Cofinimmo has confirmed that it is considering the sale of two prime office properties in Belgium, Egmont I and Egmont II.
The properties are located in the Brussels City Centre and represent a combined 53,000 m2 office area. Cofinimmo purchased Egmont I plus the land on which Egmont II would be built from the Belgian state in 2004 for around €174 mln.
According to the company, over the past few years there have not been any lease negotiations with the tenant, the Belgian Government Buildings Agency (Régie des Bâtiments/Regie der Gebouwen).
In 2009, Cofinimmo sold the future lease receivables for the properties to BNP Paribas Fortis for just under €200 mln.
The Belgium-listed investment company said it had made no commitments to date, but would discuss divesting the property in 2018.
