Nextensa sells European district building

Tim Harrup

Nextensa has anounced that at the beginning of this month it sold a prime building in the European district of Brussels. The building is known as Treesquare and is located on one corner of the Square de Meeûs. The buyer is KGAL Investment Management.

Nextensa describes the building as offering a first class office experience in the heart of the European district. The Square De Meeûs indeed, has long been one of the most prestigious locations in the European district. It has a mix of office and residential accommodation, and is the closest green area to the European Parliament. It is less than a hundred metres from the Place du Luxembourg which is itself effectively the ‘forecourt’ of the Parliament. Numerous restaurants, cafes and hotels are located directly in this corner of the capital, and the Gare du Luxembourg is also to be found here. Bus and metro lines also serve the district, with the Trône metro station just a couple of minutes’ walk from Treesquare.

Having come into its portfolio in 2004, Nextensa goes on to say, the building was demolished and reconstructed (the work of Assar Architects) from 2016 to 2018in order to provide a 6,500 m² workspace corresponding to ‘triple A’ criteria. Technical features include solar panels, a double skin façade with integrated solar protection, intelligent climate control ceilings and a green roof. It thus obtained BREEAM Excellent certification when the works were finished. The building is entirely let.

Nextensa explains that the sale of Treesquare fits within the strategy of the real estate investor and developer to realize exceptional added value through targeted divestments within its portfolio. In this manner, Nextensa wants to be able to respond proactively to interesting development opportunities that present themselves on the real estate market.

For this transaction, Nextensa was advised by CBRE. KGAL was advised by Allen & Overy, Arcadis and SPINE.