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Cofinimmo puts strategy into action

Image: wikipedia
Image: wikipedia

Cofinimmo has been demonstrating its office portfolio strategy over recent days. This policy is described by Jean-Pierre Hanin, Chief Executive Officer:
“Cofinimmo’s strategy in the office segment 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.”

Two transactions have been made in this direction. Firstly, on May 20th Cofinimmo acquired 100 % of the shares of the company owning the Loi/Wet 85 office building. The building is located in rue de la Loi/Wetstraat, in the heart of the European district of Brussels (Central Business District). The conventional value for the calculation of the share price amounts to approximately 6 million EUR. The building will be partially demolished and thoroughly renovated.

And a few days earlier Cofinimmo signed a private agreement regarding the sale of the Woluwe 102 office building (photo), located in the boulevard de la Woluwelaan, in the decentralised district of Brussels, for more than 8 million EUR. This amount is in line with the last fair value (as at 31.03.2019) determined by the independent valuer of Cofinimmo. The notary deed should be signed shortly. The building offers more than 6,400 m² of office space, approximately 1,600 m² of multipurpose space and 200 parking spaces. A large part of the building is vacant.
Tim Harrup
11-06-2019
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