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Colonel Bourg sale: another residential conversion

Image: Knight Frank
Image: Knight Frank

Cofinimmo has announced the sale of an important building in one of Brussels’ decentralised office districts. The building in question is ‘Colonel Bourg 105’, located close to the E40 entry to Brussels when coming from Liège.

Colonel Bourg 105 offers more than 2,600 m² of office space. It has multiple tenants and is partially vacant.
As part of the ‘Mediapark’ and ‘E40 Parkway’ projects of the city of Brussels, the surroundings of the building will be redeveloped into a green, partially residential area close to the VRT1 tower. This office building will also be redeveloped into a residential building by new owner Revive, a company from Ghent.
Jean-Pierre Hanin, Chief Executive Officer of Cofinimmo, comments on his company’s strategy with this sale: "With the sale of this building, we are pursuing our strategy in the office segment. It consists of improving the overall balance of the office portfolio by reducing the part invested in the decentralised area to the benefit of assets located in the Central Business District of Brussels.”

Nicolas Bearelle, Chief Executive Officer of Revive: “This recent purchase fits in with our diversification and growth ambition to become a major player in the residential rental market. Affordable urban living that also meets the strictest energy requirements will become a critical element in the real estate market after 2020. Through the reconversion of this ideally located office building, we also want to contribute to the urgent mobility problem, by seamlessly connecting living and working. This purchase is part of the Goodlife Fund that is managed by Revive and will be commercialized under the name ‘Hejme’. This ‘Housing as a Service’ component of the Revive group will be operational this summer on the ‘Ekla’ site in Molenbeek.”

Of itself, Revive has this to say: Revive was founded in 2009 by Nicolas Bearelle and Piet Colruyt and quickly grew into a leading real estate developer with a pronounced ‘triple bottom line’ commitment: people, planet, profit. Striving for social and ecological solutions are priority. Because Revive doesn't just build real estate, but a better future for everyone.
With a team of 35 specialists, Revive is currently developing 16 very progressive and fresh city districts in Flanders, Brussels and Poland. This is good for 2000 residential units in the next 5 years.
Tim Harrup
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