Koramic acquires Uccle reconversion project

Tim Harrup

There has been a substantial deal on the rue de Stalle in Uccle, a mini office sub-market located at a strategic entry point to Brussels. In November 2022, Brody and its partner Square Group decided to disinvest two office buildings with an executable reconversion permit into 84 residential units. The two buildings are known as the Peridot project.

Following a competitive and transparent, clear and structured sales process, which included all candidate buyers in a fair competition, investor/developer Koramic Real Estate emerged as the winning bidder, and will now carry out the construction works and will turn the buildings into high quality residential units.

The Rue de Stalle is seeing a number of its former office buildings being converted to residential use, in line with many other office districts of the capital. One major recent transaction involved the opening of new offices however, with the commune of Uccle redeveloping a building and transferring virtually all of its services here, from their historic headquarters in the centre of the commune, which had become too constricting.

Along with Colliers Belgium, Cushman & Wakefield also advised Brody and Square Group in this transaction.