Avenue des Arts 41 changes hands

OFFICES
Tim Harrup

A transaction which has seen little publicity took place recently in the European district of Brussels. It involved the off-market sale of a strategically located building, Avenue des Arts 41, by Dassault Real Estate Belgium to the Unibra Real Estate family office. The building extends to around 3,500 m² and is let to a number of tenants. At ground floor level, it is known to Brussels residents for the presence of bookshop Filigranes (whose official address is number 39).

As pointed out by Cushman & Wakefield, who acted in the sale, access to the building is now easier due to the pedestrian and cycle-ways which have been developed alongside the inner ring road (petite ceinture) of which Avenue des Arts is a part. The Arts-Loi and Trône metro stations are also located just a couple of minutes’ walk on either side of the building.

Dassault Real Estate had acquired the asset nine years ago and has seen the value of European district properties move significantly upwards in the intervening period. Where buyer Unibra Real Estate is concerned, it is already the owner of adjoining Avenues des Arts 40, giving it a larger potentially single unit in this same location. Along with brokers Cushman & Wakefield who initiated the transaction, the sellers were advised by Deloitte Legal and the buyers by the Liedekerke firm.