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M&G Real Estate acquires €41.5m prime Brussels office

People & Companies / Latest News

Belgium

Aug 15 2017

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Property Magazine

M&G Real Estate has acquired a prime office building located on the Rue Guimard in the Leopold district of Brussels for €41.5m, representing a net yield of 4.8 per cent. The acquisition was made on behalf of the real estate fund manager’s core European property strategy, managed by David Jackson and Simon Ellis. The 9,913 sq m building is 100 percent let to a strong tenant. 

“This latest acquisition stood out as a compelling investment opportunity in line with our core strategy to acquire office buildings in the city centres of major European hubs. As Europe’s capital city, Brussels offers attractive macro fundamentals with a dynamic economy made up of both a strong Government component and buoyant private sector, which remains the largest driver. Transparent and mature European markets like Brussels, where strong fundamentals and economic stability prevail, will continue to be our focus,” comments David Jackson, Fund manager, M&G Real Estate.

“The location of this building in the heart of Brussel’s Leopold District was very attractive from an investment point of view, given the low vacancy and relatively tight supply of quality office space in this part of the city over recent years. We believe that these local market fundamentals will fuel rental growth, driving long term income returns on behalf of our investors,” comments Simon Ellis, Deputy Fund Manager, M&G Real Estate.

SOURCE: Property Magazine

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