Intervest Offices has concluded a new lease with PricewaterhouseCoopers (PwC) for a surface area of 15,786 m[sup]2[/sup] at the Woluwe Garden building complex in Zaventem, Belgium. The total complex has a surface area of 24,081 m[sup]2[/sup] and is entirely rented to PwC, IBM Consulting and Lawfort.
Intervest Offices has concluded a new lease with PricewaterhouseCoopers (PwC) for a surface area of 15,786 m2 at the Woluwe Garden building complex in Zaventem, Belgium. The total complex has a surface area of 24,081 m2 and is entirely rented to PwC, IBM Consulting and Lawfort.
PwC's present lease ends on December 31, 2008. A new lease has been signed for a period of 9 years starting on January 1, 2009 and may take up additional space at that time. The agreed rent is situated at a level that corresponds with the rents presently applicable for top buildings in the periphery of Brussels.
The new rent is about 12,5% lower than the present rent, Intervest Offices said. This is the second most important lease transaction on the Brussels office market this year. Earlier in 2006 Ernst & Young concluded a lease for the development of a new 17,000 m2 head office in Zaventem.
Commenting on the PwC lease, Intervest Offices ceo Jean-Paul Sols said it represents 12% of the company's rental income. VastNed of the Netherlands owns 51.1% of property investment fund Intervest Offices.
