Monday February 24, 2020

Investor spends €20m on Belgian office

A private Irish investor has spent €20 million on an office building in Brussels which is let to the European Union.

3rd September, 2005

Property consultants CBRE Gunne in association with CB Richard Ellis in Brussels acted on behalf of the investor and the deal reflects an initial yield of 6 per cent after costs. The offices at 17-23 Rue Drapiers measure 6,500 square metres, have 55 car spaces and were recently refurbished by the vendors.

The centrally based property is fully let to the EU's European Defence Agency on a fixed 9-year lease without breaks and is producing a rent of...

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