RTL House sold

Tim Harrup

Cofinimmo has announced that, advised by real estate broker CBRE, it has proceeded with the sale of the building located at Avenue Jacques Georgin 2 in 1030 Brussels, in the decentralised area of Brussels. While this address may not be familiar to many, the location certainly is. It is part of the RTBF/VRT broadcasting complex currently being redeveloped into a media city at Reyers. The building is in fact RTL House, the headquarters of RTL Belgium.

The office building is a built-to-suit development designed by Archi 2000 for RTL is fully lent to RTL. The property offers 19,000m² of office space, archives and high-end TV and radio studios.

The buyer is French company Corum Origin. The sale price of this building amounts to some 29 million Euros, an amount in line with the latest fair value (as at 31.12.2022), as determined by Cofinimmo's independent real estate valuers.Cofinimo goes on to say that the divestment of the site is included in the divestment budget for 2023, as published in February. Jean-Pierre Hanin, CEO of Cofinimmo, comments: “This transaction is fully in line with our overall strategy of rebalancing our portfolio and demonstrates our ability to perform asset arbitrages.

JLL acted as co-agent on the file.