Brussels-listed Leasinvest Real Estate has acquired a vacant hotel in Luxembourg for a new office development. The investment volume was not disclosed.
Brussels-listed Leasinvest Real Estate has acquired a vacant hotel in Luxembourg for a new office development. The investment volume was not disclosed.
Hotel Rix on Boulevard Royal in the city of Luxembourg recently stopped trading. Leaseinvest intends to demolish the premise to make way for a 5,000 m2 office building that conforms to high energy performance standards,
Subject to obtaining the necessary permits, Leaseinvest expects the development will be completed by end-2014.
Hoche Partners and Property Partners advised on the transaction.
