An international arm of the UK-based commercial property firm Savills represented the vendor in a deal involving close to 2,800 square feet of office space in the Belgian capital, which is also effectively the capital of the European Union.
More than ten different parties were interested in acquiring the area of real estate in the Leopold District, where a number of new office space and residential property development schemes are either underway or in the pipeline.
Despite these development projects, experts at Savills’ Belux Investment office expect demand for prime office space in Brussels to increase notably over the next few years.
“The abundance of interest in the Froissart property from both occupiers and developers simply shows that a well-located property like Froissart is not easy to find,” said Sheelam Chadha, from Savills Belux Investment.
“The sale of the property concludes that market players are now anticipating the rebound in the market from 2012 onwards.”
Last month, Savills announced that it had helped Draco strike a deal to let just over 2,000 square feet of prime office space in Central London to a company called Ryan Tax Services.
Savills insists that its real estate investment advice is “of the highest calibre” and the commercial property firm can now boast of having more than 200 office bases worldwide.
Editor’s notes: The former office of the Irish Permanent Representation to the European Union, at Rue Froissart 83, was sold for an undisclosed sum to Belgian developer Cobelfroi SA.