Savills acquires seven-story office property in Brussels

Savills Investment Management, an international real estate investment manager, has acquired a seven-story office property in Brussels on behalf of its Savills IM European Commercial Fund, a Luxembourg FCP-SIF.

The seller was ALIDES REIM NV, and the terms of the transaction were not disclosed. The purchase was part of a share deal, according to Savills.

The BREEAM Excellent-certified property offers a leasable area of 5,872 square meters (63,200 square feet), as well as 15 parking spaces. Five companies lease the property, with an average lease term of eight years.

The property is located within the European CBD, a high-demand office market location with 3.3 million square meters (35 million square feet) of office space, and is close to public transport.

Brussels houses 1.2 million people and is one of the largest employment regions in Europe, employing around 700,000 people full-time, according to Gerhard Lehner, managing director and head of fund manage