Copernicus building recent real estate development and transaction is exemplary

INVESTMENT
Spotted in @LesNews24

Real estate investor and developer Alides, part of the Ghent family Group Maes, has signed a 20-year usufruct agreement with the European Commission for the 13.500 m2 office part of the Copernicus building in Brussels, a contract valued at 60 million d'euros. Located at 51 Rue de la Loi, the brand new mixed office and apartment building is offering over 13 500 m2 of office space.

The building is located in the heart of the European district, at the junction of the Rue de la Loi and the Rue de la Science. The new landmark rises to 14 storeys with a total floor area of almost 15,000 m2. This makes it one of the largest real estate projects on the market in Brussels in 2021. To put this into context, a total of just over 100 000 m2 of office space was occupied in the European quarter in 2020, with the stand-out building being ‘The One’ (29,241 m2) which the European Commission now also occupies.

Copernicus, designed by LD2 Architecture, is the first major project to be completed under the Loi City Project established by the Brussels Capital Region Government. The building looks very light and transparent. Its architecture symbolises the renewed urban fabric of the European quarter. An important step has been done in breaking the so-called canyoning of the Rue de la Loi – the feeling of being trapped when you walk or drive through it. The building concept breaks also with the monofunctionality of the Rue de la Loi. Along the side of the Rue de la Science, twelve spacious apartments equipped with terraces overlook the courtyard garden with a view on the Orban square. This development ensures that, in addition to the many office spaces, there will be more people living in the district.


video : www.marcdetiffe.com

Alides CEO Rikkert Leeman explains the importance of the transaction with the European Commission for the company: “The Copernicus building is one of Alides' crown jewels, which we have had in our portfolio for over 20 years. The agreement that has just been concluded guarantees a stable revenue stream that will provide a foundation for future investments, including more in the capital.

In its interview on LN24, Rikkert Leeman explains how the building matches the requirements of the ‘Green deal’ engagement of the European Commission, and how its architecture and mix-used fits with the renewed urban fabric of Rue de la loi .

Watch the broadcast op KanaalZ >>

This transaction is one more move in the European district by Alides which has been particularly active in the European district over recent times.with the Turnkey (Square de Meeûs), Oxygen (Rue de Spa) and a building on Rue Joseph II.

Copernicus building will be completed on 30 June 2021 and the first European officials are expected to move into the building in early September.