Bâloise acquires the iconic Royale Belge

Spotted in @lecho

Swiss insurance group Bâloise has acquired the iconic Royale Belge in Brussels, AXA former headquarters, for around 160 million Euros. The site is still undergoing transformation at full speed. A mixed-use conversion project (offices, hotel, co-working center, fitness center) undertaken by a consortium of developers which bought the site from Cofinimmo at the end of 2019. Initially, the budget announced for this development was around 120 million Euros, acquisition included. In the end, it will bring around 160 million Euros to the consortium made up of Cores Development (50%), Urbicoon (25%), Foresite (20%) and Ape (5%).

One of the key assets for this acquisition is the 21,000 m² of office space leased by CBRE and Belsquare to quality occupants such as Belgian private bank Puilaetco, Claeys&Engels law firm, Emakina digital marketing agency, Auxipress and pharmaceutical company MSD. Limited Edition Hotels will be operating the 212-room hotel spread over three levels, as well as the ground-level amphitheatre, a restaurant and a bar. The company is known for transforming conventional hotel concepts into an innovative and refreshing offer in harmony with their surroundings. Clients of the hotel will be able to use the other facilities in the building, including the wellness centre and co-working spaces.

The successful revamping project 'Souverain 25' was conceived by the Anglo-Belgian tandem of architects Peter St John (Caruso St John Architects Llp) and Dirk Somers (Bovenbouw Architectuur), reinforced by DDS+, MA2 (Francis Metzger) and Eole.

Read more in L'echo report [Le Souverain 25 transformé est déjà vendu ] >>