Ghelamco sells Brussels office block for €105 million

Ghelamco sells Brussels office block for €105 million
The Spectrum building by Madou, sold for €105 million © Ghelamco

Real estate company Ghelamco on Friday signed a deal for the sale of the Spectrum office building in Brussels for €105 million. The buyer is the German group Deka Immobilien.

The Spectrum building (photo) is situated in Saint-Josse, on the Boulevard Bischoffsheim in the Madou area, opposite the commune’s town hall.

It offers 62,000 square metres of office space on 11 above-ground floors in a distinctive flat-iron shaped building. the building was near completing construction in 2018.

Ghelamco, the company which gave its name to the new stadium for AA Gent and which was due to construct the ill-fated new national football stadium on Parking C of the Heysel complex in Brussels, is also on the verge of closing another major real estate deal in Brussels, according to chief executive Paul Gheysens questioned by Bruzz.

The deal concerns the Silver Tower building, an elliptical building situated between the Jardin Botanique and the tracks leading into the North station, also in Saint-Josse.

“We’ve received about a dozen offers over €200 million,” Gheysens said. Deka is also one of the contenders. “We’ve had good experiences with them,” he said. “They’re in our top three, and we will certainly be talking more with them, but also with other candidates.”

According to architects Greisch, based in Liege, Brussels and Luxembourg, construction works on the Silver Tower cost €18,000,000 for seven underground and 32 above-ground floors, suggesting an asking price now of at least ten times cost. The building was completed in 2016, and originally intended to house employees of the Brussels Region.

Alan Hope

The Brussels Times

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