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Befimmo to buy Arts 56

(Image: wehaveanyspace.com)
(Image: wehaveanyspace.com)

Axa Belgium and Befimmo have announced that they have entered into an agreement, subject to conditions, involving the acquisition by Befimmo of a 99-year leasehold on the Arts 56 building. This 21,000 m² building is located on the Avenue des Arts at the Place du Trône, and as such benefits from being just a few minutes walk from the European Parliament and other institutions, along with the Belgian administrations to be found around the Federal parliament a few hundred metres away.

Arts 56 is currently virtually completely let to a dozen different tenants, and produces a rental income of € 5.2 million. This equates to a yield of 4.5% at the proposed transaction terms.

Facilities of the building include meeting rooms, a restaurant and showers. Where access is concerned, Trône metro station is literally outside the front door, Luxembourg railway station is around 5 minutes walk, and just around the corner on the Rue du Luxembourg, there is a major bus hub, with some 9 services.
Tim Harrup

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