German fund Real I.S. has re-entered the Belgian investment market after an eight-year absence by purchasing the new Ernst & Young headquarters from UK developer Segro for about EUR 35 mln in Diegem, Brussels. 'Despite a lacklustre market, this deal proves the importance of the German funds during this stagnant trading period and should help kick start the second half of the year. With a clear lack of tradable quality, long-leases, we were successful in sourcing the right product for Real I.S.,' according to Savills which acted fro Real I.S.
German fund Real I.S. has re-entered the Belgian investment market after an eight-year absence by purchasing the new Ernst & Young headquarters from UK developer Segro for about EUR 35 mln in Diegem, Brussels. 'Despite a lacklustre market, this deal proves the importance of the German funds during this stagnant trading period and should help kick start the second half of the year. With a clear lack of tradable quality, long-leases, we were successful in sourcing the right product for Real I.S.,' according to Savills which acted fro Real I.S.
The 18,760 m2 built-to-suit office building forms part of the Pegasus Business Park and has direct front-row visibility with Brussels ring-road. Surrounding neighbours include DHL, Bayer and Johnson Controls. It was built-to-suit for Ernst & Young, who moved from its former building in the decentralised District in Brussels. The property is fully-let until 2023 offering the latest building technology and energy efficiency techniques.
