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Trio changes hands

There has been another transaction involving the ‘Trio’ building, located close to the corner made up of the Chaussée de Charleroi and the Rue Defacqz. M&G Real Estate has bought this 15,400 m² office scheme on behalf of the M&G European Property Fund. The transaction follows the purchase of a prime office building on Rue Guimard in Brussels and brings M&G Real Estate’s overall holdings in the Belgian market to around €267m.

The location is on the edge of the ‘Louise’ district of Brussels CBD, and is equidistant between ‘Ma Campagne’ and the Place Louise. It thus benefits from a less dense public transport service than buildings on the Avenue Louise itself, but is well located in terms of shopping and other facilities. Trio’s tenants include Pernod Ricard, the Belgian State and Rail Europe.

David Jackson, who jointly manages the M&G European Property Fund, comments: “The economic stability, growth prospects and low vacancies in the office markets make Northern Europe an attractive place to invest. These markets fundamentals are in line with our core European Strategy and our ongoing commitment to Northern Europe will help us deliver long-term income driven returns for our investors”. His colleague Olivier Vellay, Head of Investments for Continental Europe, adds: “Belgium is also a key market for M&G’s European long lease property strategy – the first pooled institutional fund to invest in Continental European long lease real estate”.

| 20/02/2018

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