Woluwe office conversion project for Eaglestone

Tim Harrup

At the end of last year, Eaglestone acquired two office buildings located in Woluwe-Saint-Lambert (Brussels) at 73 Avenue des Pléiades, and 5 Clos du Lynx. Eaglestone says that it has acquired the buildings with a view over time to developing a fourth residential project. Through this new acquisition, Eaglestone goes on to say, it wishes to respond to the constantly growing demand in the municipality for quality housing that is accessible to a wide public. It also fits in with the urban planning process initiated by the Brussels Capital region, which aims to transform the area into a mixed, lively and accessible urban centre.

The location offers a number of advantages in terms of mobility and convenience. The building is located alongside the E40 and benefits from a new bicycle lane making it easy to access the Place Meiser and the future Mediapark set to be constructed there. The neighbourhood is also characterised by an excellent mix of services: offices, shops, schools, a sports centre and residential areas are a stone’s throw away.

The building consists of two blocks that are interconnected on all floors: Antarès A & B currently have a total surface area of approximately 12,500m² of offices spread over five and six floors respectively. There are also 220 indoor parking spaces and 34 outdoor parking spaces. Antarès A & B benefit from an excellent rental situation. The buildings are currently 94% occupied, with two prestigious tenants (Merck Sharp & Dohme and Nielsen Company Belgique), which will remain in the building until the end of 2022. Currently there is only one available space to let:of around 750m² of office space.

Over time, Eaglestone has stated that it envisages converting the buildings into housing and has a vast renovation programme planned, which will keep the supporting structure of the buildings. The future project will be designed by DDS+Architects, and aims to offer modern and affordable apartments, in keeping with the harmony of the adjacent buildings and respecting the existing architectural style of the area. Over the coming months, consultations will be held with the authorities on the final planning of the project, with a view to a delivery towards the end of 2024. The total investment of the project represents over 27 million Euros. Eaglestone’s future project will integrate all the aspects required by a development with high environmental quality in order to reach its carbon-neutral aims, which form an integral part of all of its future developments.

Nicolas Orts –CEO of Eaglestone, comments: “Mediapark Brussels is a new area of development representing numerous opportunities in terms of residential regeneration. Several major redevelopment projects, including 8 hectares of new public woodland parks, will transform this area into a mixed, accessible and vibrant urban landscape within a few years. Located at the borders of this zone, the Antarès project fits in perfectly with this spirit of community and innovation, which without a doubt creates added value for Brussels. Therefore, this new operation ties in completely with our strategy of acquiring assets offering huge potential”.

JLL advised KBC in this transaction. Urban Law and Pro group represented Eaglestone.