Belgian apartments investor Chateau Promotion has acquired 8,000 m[sup]2[/sup] of office space on the upper levels of the Passage Saint-Honoré property in the centre of Brussels. The property was formerly occupied by the Ministry of Finance. Chateau Promotion has a building permit to redevelop the space into residential units.
Belgian apartments investor Chateau Promotion has acquired 8,000 m2 of office space on the upper levels of the Passage Saint-Honoré property in the centre of Brussels. The property was formerly occupied by the Ministry of Finance. Chateau Promotion has a building permit to redevelop the space into residential units.
A group of private investors acquired the asset's 2,000 m2 retail gallery and underground car park.
The financial details of the two transactions were not disclosed.
Knight Frank acted on behalf of the vendors in this transaction. Filip Derijck, managing director of Knight Frank in Belgium said: 'Having experienced difficulty to find a buyer for the entire complex because of the strong mix of use, we opted for a sale of the parts separately to optimize the result of the operation.'
The purchasers of the gallery were advised by GVA Grimley.
