PRESS RELEASE
29/06/2011
SALE OF SOUTH CRYSTAL BUILDING IN BRUSSELS
Today 29 June, a partnership comprising Soficom Development sa, IMMOBEL sa, CFE sa and Besix RED sa has concluded the sale to ETHIAS of the building known as South Crystal, located at 13-18 Avenue Fonsny, in Saint-Gilles, for the sum of approximately 30 MEUR inclusive of tax.
This is a mixed-use building of offices and shops. All of the offices, some 6,427 m² and 34 parking spaces, have been leased to the SNCB Holding, and Delhaize sa has leased most of the 811 m² of retail space to set up a new Proxy Delhaize in the near future.
As far as energy is concerned, the building has recently been awarded VALIDEO certification and has achieved an E75.
This brings to a conclusion the long series of real estate projects developed by the promoters along the avenue Fonsny: a +/-18,000 m² office building sold to Delta Lloyd and delivered in 2003 and 2004; two office buildings sold respectively to Group S (+/- 10,000 m²) and to GLL Real Estate, leased to the SNCB Holding (+/- 10,000 m²), both delivered in 2008; two office buildings of +/- 13,000 m² and 17,000 m² developed in partnership on block C and delivered in 2009 and 2010, and sold to Integrale and Allianz (occupied by SMALS and Infrabel); and, finally, a 142 room hotel operating under the Park Inn flag, which opened last March 1. This hotel has not only created a new dynamism in the neighbourhood, but has created new jobs too.
To complete these operations the promoters have also developed a building of 22 apartments, located in Rue de Russie, with shops on the ground floor. The businesses are operational and the housing units are up for sale now. Several are already occupied by the new owners.
For more information:
Jean-Paul Buess
T: +32 (0)2 543 45 24
Avenue Brugmann 27A
1060 Brussels
jpbuess@esde.eiffage.be
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30/06/2010
BPI, ESPACE MIDI and ATENOR sell
SOUTH
CITY OFFICE FONSNY to INTEGRALE and OGEO FUND
The developers of the SOUTH CITY project (ATENOR GROUP, BPI and ESPACE MIDI*), of which CFE Group holds 20% of the shares, are happy to announce the transfer of ownership of South City Office Fonsny to INTEGRAL and OGEO Fund on June 30, 2010.
The
SOUTH
CITY complex is ideally located along the avenue Fonsny and the Place Broodthaers, directly facing the exit of the Gare du Midi in
Brussels. With excellent accessibility and a resolutely durable design,
SOUTH
CITY was an immediate commercial success (the whole of the complex being 100% rented prior to delivery). It has in total nearly
31,000 m² of offices and a 142-room hotel.
The Fonsny building (the property of South City Fonsny Office sa), consisting of
13,200 m² of offices and 3 commercial properties is the first building of the South City complex to be completed: it was delivered on December 15, 2009 and the offices has been fully occupied since then by SMALS under the terms of a 27-year fixed lease. Its location (and hence its accessibility), its design and technical realization, its tenants and the duration of the lease, are all exceptional qualities that justified INTEGRAL and OGEO Fund making this acquisition. The valorization of the building approximates 49 M€.
The balance of the
SOUTH
CITY complex will be completed in the coming months: the second office building (called Broodthaers and whose entrance gives onto the Place with the same name) will be delivered in November 2010 and the hotel should open in March 2011.
This transaction shows that the
Brussels market is still highly valued for property combining accessibility, durable technical performance and tenant quality, which should be confirmed for the balance of the
SOUTH
CITY complex.
CFE is a multidisciplinary group of companies operating in construction and associated services. Listed on Euronext Brussels, it is owned 47% by VINCI. CFE is one of the major players in
Belgium's construction industry, with a presence in the
Netherlands,
Luxembourg and
Central Europe. In addition, CFE owns 50% of the share capital of DEME, one of the world's leading dredging contractors.
This press release is available on our website: www.cfe.be
For further information:
Jacques Lefèvre, Managing Director BPI, tel. 02/661.16.82,
GSM : 0475/539.191, jacques_lefevre@bpisa.be
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PRESS RELEASE OF 30TH JUNE 2010 RE "LA RESERVE PROMOTIONS"
ONLY EXISTS IN FR and NL
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Launching Oceans Four project in Gdansk
Oceans Four is an exceptional project in every aspect regarding its location, architecture and finishing. This modern high complex is being developed in Gdansk, in the Przymorze neighborhood. Each of the four buildings is a different world, a different ocean - the Pacific, the Atlantic, the Indian and the Southern Ocean.
Four 18-storey buildings are planned to contain 540 apartments in offering between 39 and 150 m².
Additionally, we have carefully planned a mix of commercial retail space on the ground floors which will ensure the residents' comfort.
All buildings will have a security system installed. There will also be a modern playground - only available for the residents of Oceans Four. The project will be realized in stages - the completion of stage I has been planned for the fourth quarter of 2011.
More info: www.oceansfour.pl
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21/12/10
ATENOR, BPI and ESPACE
MIDI sell
SOUTH
CITY OFFICE BROODTHAERS to the ALLIANZ Group
After the sale of SOUTH CITY OFFICE FONSNY last June, the developpers of the SOUTH CITY project (being ATENOR GROUP, B.P.I. and ESPACE Midi)1 are pleased to announce the transfer of SOUTH CITY OFFICE BROODTHAERS to the ALLIANZ group.
The
SOUTH
CITY complex is ideally situated on Avenue Fonsny and Place Broodthaers just opposite the exit of the Gare du Midi in
Brussels. With its excellent accessibility and resolutely robust design,
SOUTH
CITY was an instant commercial success (the complex was entirely rented before delivery). In total, it comprises nearly 31,000 m² of offices and a 142-room hotel.
The BROODTHAERS building (property of South City Office Broodthaers SA), has 17,700 m² of offices and 3 stores: it was delivered on 15 November 2010 and since then the offices have been entirely occupied by INFRABEL and SMALS. Its location, design, technical performance and tenants, as well as the duration of the leases are amongst the exceptional qualities that led the ALLIANZ group to this acquisition. The value of the building is estimated at around 70 M€.
The complex's first office building was delivered on 15 December 2009 and it was entirely rented to SMALS. INTEGRALE and OGEO Fund acquired the company SOUTH CITY OFFICE FONSNY, which owned it, in June 2010.
The 142-room hotel that completes this mixed urban complex will open on 1 March 2011 and will be operated by REZIDOR under the PARK INN trade name.
This transaction shows that buildings combining accessibility, durable technical performance and tenant quality are still highly sought after on the
Brussels market, and this is expected to be reconfirmed with the sale of the remainder of the complex, i.e. SOUTH CITY HOTEL SA.
For further information, please contact:
- For ATENOR GROUP: Stéphan Sonneville s.a., CEO (+32 2 387 2299)
- For BPI: M. Jacques Lefèvre, Managing Director (+32 2 661 1687)
- For ESPACE MIDI: M. Jean-Paul Buess, Managing Director of ESPACE
MIDI (+32 2 543 4524)
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1 ATENOR GROUP (40%), BPI (10%) and ESPACE
MIDI (50%), whose shareholders are SOFICOM DEVELOPMENT, BESIX RED, IMMOBEL and CFE.
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PRESS INFORMATION
Real Estate Project "VICTOR"
Brussels, 13 January 2011
Following the submission of an application for planning permission and an environmental permit for the project VICTOR, Atenor and CFE would like to recall the approach that has guided them in the development of this project.
Generally, it is accepted that we are confronted with the necessity to change our behaviour profoundly because of climate changes and their consequences for our environment.
In this context, cities are faced with new challenges: on the one hand, levels of pollution that are too high and disruptions to mobility; on the other hand, population growth due in particular to the attraction that they exert on an underprivileged population.
Cities must therefore adapt and it is during their reconstruction that they will incorporate the new constraints as well as they can and produce solutions for them.
For several years, Atenor and CFE have resolutely committed themselves to the sustainable (re)development of cities and in particular Brussels, a city region with its own characteristics.
We can share the idea that there are a large number of offices in Brussels and, on the other hand, an obvious shortage of housing; which both Atenor and CFE are also developing elsewhere.
However, there are at least three reasons for granting planning permissions for new offices:
1. The high environmental standards: definitely higher than those of obsolete offices (which, in addition, constitute the major part of the rental vacancies);
2. The location: concentration in the areas around international and multi-modal HST railway stations so as promote travel by public transport; other cities are giving an example of this both in Belgium (notably Liege) and abroad (Lille and Lyon in France, amongst others).
3. Diversity: offices must be part of a sustainable policy of diversity of the district.
We believe that, from an environmental point of view, obsolete offices that do not offer any alternative to the use of cars must inevitably be converted in the long term. This reconversion process is clearly making progress but will require several years not just because of the length of the planning procedures but also the technical complexity of designing a mixed project.
The development of new offices meeting these sustainability criteria is thus a reflection of a necessity of our times. Such offices also address a genuine demand both on the part of the workers that occupy them, the tenants-decision makers who settle there and investors who are repositioning their portfolios towards sustainable property.
Proof of this is the virtually zero number of rental vacancies in the Gare du Midi district and the speed at which these properties have recently been finding tenants and buyers.
This sustainable redevelopment has economic, social and environmental dimensions.
Project VICTOR addresses in all respects the sustainable redevelopment of the Gare du Midi district.
The redevelopment of this district requires time. Major steps that lead towards a sustainable urbanisation of the district have been completed and could still be taken in the near future, in particular with the other Atenor and CFE projects being completed in the district and soon with the common development of Project VICTOR.
A project is only part of a whole, a district, a city. The project must thus certainly be analyzed in itself, but also in its general context; case studies fulfil this role perfectly.
Project VICTOR introduces the much needed density opposite the TGV station in Brussels. It constitutes a genuine ambition, at the scale of the city and the district. Space on the ground is scarce here and increasing the density of constructions is part of good spatial planning as evidenced by numerous cities.
As a reminder, Project VICTOR will take place at 3 major grouped sites:
- an undeveloped site, a scene of uncivil degradation,
- an old disused warehouse and several abandoned homes,
- an empty and completely obsolete office building.
The specific land use plans, in process of being withdrawn, were no longer applicable in their current status (in particular for the 10,000 m² of housing). Project VICTOR introduces diversity into its area and in the long term will provide 5,000 m² of housing and 3,500 m² of commerce. We believe that commerce at this location has a function as important as housing to structure the fabric of this district.
Furthermore, other housing projects are being developed in the district, for some of which Atenor or CFE is the initiator.
It is also worth noting that major housing projects (several tens of thousands of m²) are being analysed within a range of at least 250 m from Project VICTOR. It is therefore simplistic to criticise Project VICTOR for its lack of housing without taking into account the environment in which it will take place and in which Atenor and CFE hope to actively participate as part of other developments.
Project VICTOR makes a major contribution to the development of public space. Indeed, from its contribution to the costs of urban planning, Project VICTOR will enable the creation of a high quality public area that is accessible to everyone.
Lastly, Project VICTOR benefits from a carefully designed architecture that cannot fail to increase the quality of the district. The basis of the project has been designed with complete openness in order to reduce the public space / private space boundary. The top of the tower seeks to create unity with the existing constructions instead of relegating them to an outdated past. The red banner that will completely surround the construction will give the district an artistic landmark that it has been lacking until today. The project VICTOR will also be BREEAM certified.
This is why we believe that Project VICTOR addresses a real need of a competitive city and of a district experiencing a revival. This major project globalises and includes the various components of a sustainable and well designed urban redevelopment, a true driving force behind a new dynamic image for the district.
ATENOR GROUP is a real estate property promotion company quoted on NYSE Euronext Brussels. Its mission aims at providing, through its urban planning and architectural approach, appropriate responses to the new requirements imposed by the development of urban and professional life. Within this framework, ATENOR GROUP is investing in large scale property projects meeting strict criteria in terms of location, economic efficiency and respect for the environment.
Reuters: ATE0.BR - Bloomberg: ATEB BB
For more detailed information, please contact Stéphan Sonneville for Stéphan Sonneville sa, CEO or William Lerinckx for Probatimmo bvba, Executive Officer.
Tel.:+32-2-387.22.99 - Fax: +32-2-387.23.16 - e-mail: info@atenor.be - www.atenor.be
CFE is a multidisciplinary construction and associated services group, listed on the Euronext Brussels, 47% of the capital of which is held by VINCI. In its traditional role as constructor, CFE is one of the principal actors in Belgium and also has a presence in the Netherlands, the Grand Duchy of Luxembourg and Central Europe. In addition, CFE holds 50% of the capital of DEME, one of the global leaders in dredging.
This press release is also available on our website at www.cfe.be.
For more information, please contact Jacques Lefèvre, Director CFE Immo.
Tel.: +32-2-663.60.10 - Fax: +32-2-673.59.25 - e-mail : info@bpisa.be - www.cfe.be