Cushman & Wakefield acted as an exclusive consultant for Connectimmo in the sale of its 36,000 sq m building on the Meir 127 / Lange Nieuwstraat 106 in Antwerp.
In addition to the property assessment, the professional real estate consultant managed the commercialisation and the entire marketing process to identify the best possible buyer.
The selection was made relatively quickly over a period of 6 months.
Arnaud de Bergeyck, International Partner and Head of Capital Markets Retail: "Most of the acquisition candidates were Belgian players, all active in residential (re)development, retail and office real estate".
Although the building is ideally located, its composition of several individual adjoining blocks in different styles and dating from different eras as well as the structure of the transaction meant that it demanded specific knowledge. The Meir 127 was occupied by the infrastructure and teams of the Belgacom operator. Due to the modernisation and restructuring of the company, most surfaces were no longer being used. Connectimmo had entrusted Cushman & Wakefield with the task of structuring a sale and leaseback of 3 years in order to allow Belgacom to relocate its facilities and find an alternative solution for its teams.
After analyzing the various buyers, Connectimmo decided to retain the joint venture of Tans Group and Urbicoon, who had decided to join forces in this acquisition.
Urbicoon is part of the worldwide group Machiels. Urbicoon designs apartments, office space and original student housing in large cities, more specifically in Brussels and Antwerp.
Tans Group is a leading developer on the Belgian market. Active in the residential market, the company also develops commercial units on the main Belgian commercial arteries.
At Cushman & Wakefield, we are pleased with the transaction and the good collaboration with the various parties. Arnaud de Bergeyck, says: "Transactions on the Meir are rare; on average one or two per year. This is one of the largest transaction on the Meir by building surface area (about 36,000 sq m). Tans Group and Urbicoon can be happy about this exceptional acquisition. This is a strategic location on the Meir and a major project that will mark the Antwerp landscape."
Permits should soon be introduced. The building will be redeveloped into a mix of housing and retail space. Some offices could also be considered. No communication has yet been made on this subject by the principal interested parties.
The Cushman and Wakefield Capital Markets team consisted of:
- Arnaud de Bergeyck, International Partner et Head of Capital Markets Retail
- Michael Despiegelaere, Partner - Capital Markets Office
- Andy Lemmens, Investment Advisor Capital Markets Office
For more information, please contact Arnaud de Bergeyck