Belgian developer Immobel has announced the sale of The Woods redevelopment project in Hoeilaart, Flemish Brabant, Belgium to a family office.
Immobel acquired the vehicles holding title to the site in 2020 and completed the redevelopment in early 2022. Since the acquisition and following the full refurbishment of the site, the occupancy rate increased from 40% to about 86%.
Nestling entirely within the Sonian Forest in Brussels, The 10,000 m2 scheme offers an original and up to date working environment with a view of the surrounding greenery. The site meets all present-day comfort requirements: multifunctional work-café, shared leisure spaces, stylish work areas, shared meeting rooms, and a wide range of restaurants and facilities in the neighborhood.
‘In these challenging times, this transaction is a clear sign of continued investor interest in well-located and modern office environments. It confirms the quality of our product and investment strategy,’ said Adel Yahia, managing director of Immobel Belgium.
Cushman & Wakefield acted as the broker for this transaction. The buyer was advised by Urban Law.
Source: propertyeu.info on the 24th of June