Leasinvest Real Estate acquires hangar building in 'trendy' Antwerp
Leasinvest Real Estate Sca
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12:50 02/10/24
Leasinvest Real Estate has acquired the Hangar 26/27 building in the Eilandje district in Antwerp, it announced on Monday, which has direct views over both the river Scheldt and the MAS museum (Museum aan de Stroom).
The Belgian real estate investment trust said the acquisition represented an investment of €22.6m, with an initial yield of 6.2%.
It said the building had a surface area of 9,370 square metres, and was part of a concession agreement with AG Vespa.
Currently, gradual renovation works were being carried out on the building, with more than 50% completed, and the remainder to be continued by Leasinvest Real Estate.
The building disposed of an additional development potential of 9,000 square metres for retail and offices purposes, the company’s board explained.
Leasinvest said the concession was acquired through the purchase of 100% of the shares of the company Carver BVBA - the concession holder - which already carried out a large part of the renovation works to the existing building.
“Antwerp is one of the trendiest cities in Europe and the Eilandje district is to be considered as a real ‘place-to-be’,” said Leasinvest chief executive officer Michel Van Geyte.
“Leasinvest is very happy with the acquisition of this unique building at this inspiring location and will ensure its further long-term development by offering office space and other mixed-use functions for occupants looking for nice working environments in which sharing services, knowledge and networking are central.”