Eurozone Equity has sold the mixed-use asset Louise Village in Brussels to local private investors for 鈧�55 mln.
Eurozone Equity has sold the mixed-use asset Louise Village in Brussels to local private investors for 鈧�55 mln.
The property comprises 4,108 m2 of retail space and 7,411 m2 of residential accommodation as well as 648 m2 of archive space and 204 parking spaces.
The complex is situated in the heart of the Belgian capital鈥檚 Louise district, and generates an annual rental income of 鈧�2.1 mln, of which 65% is from the retail space.
The residential component consists of a total of 58 apartments which will shortly undergo refurbishment.
'Louise Village is a prime asset located in the most prestigious luxury shopping area of Brussels,' said Gregory Martin, managing director at Savills Belux, which advised the vendor.
Belgium's retail investment volume amounted to 鈧�686 mln last year, exceeding the level of office deals. 'Institutional investors seek to increase their allocation to a sector which has consistently performed well,' Martin said.
He added: 'Since 2008 annual retail sales in Belgium have increased steadily making the retail segment a strong performing market in which to invest.'
