Cushman & Wakefield advised Redevco on the transaction of the Senneberg office building in Vilvorde, the first high-volume transaction in years.
Financière Teychené has taken over the Senneberg office building from Redevco, administrator and developer of retail real estate across Europe. Their portfolio comprises over 600 properties in European top locations. Cushman & Wakefield (Maxime Xantippe and Stijn Thomas), advised in this sales transaction (CBRE was co-agent).
The French Financial private Group Financière Teychené, who has been aggressively growing in Belgium over the last two years, has been on the European market for about 30 years. Initially, they started off as a promoter, however they rapidly converted into a financial group. They have over 500.000 sq.m. assets in their portfolio for an estimated total value of 1 billion €, and this predominantly in commercial real estate, offices, residential real estate and 1000 student flats.
The Senneberg office building is located on the Avenue Jean Monnet in Vilvorde and houses the European purchasing departments of the internationally renowned clothing brand C&A.
C&A has recently signed a new fixed lease contract for the next 12 years.
The building has approximately 35.000 sq.m. of office space and an outside parking of 591 parking spaces.
This is the largest sales transaction in the Brussels periphery since the sale of Collines de Wavre. The investment market for offices in Belgium is clearly resurging : during the first half of 2013 the investment volume in this market already surpassed the total of 2012. Both local and international players are currently active : Belgium is unmistakably back on the radar of many international investors, including for offices outside the center of Brussels.