Glass maker HQ to be sold
The Brussels headquarters of glass manufacturer AGC Flat Glass Europe (formerly Glaverbel) is being sold. The Fortis-managed building, at 166 Chaussée de la Hulpe, is valued at around €100m. With rents of around €180 per m2 per year, yields are believed to be around 5.75%. Catella is advising the sellers.
EC office plan for Brussels
The European Commission has launched a new office and residential plan for Brussels. As much as 400,000 m2 of new office space could be built in Rue de la Loi, in the heart of the city’s Léopold district. The area could also get a new road tunnel as part of the plan, which EC planners hope will breathe life into what many regard as a lifeless European ghetto. Work is scheduled to begin in 2009.
Hammerson shops in Angers
Hammerson has bought a shopping centre in the French city of Angers for €66m. The 22,000 m2 Grand Maine building was sold by private fund Locasic. Carrefour, Celio and Intersport are tenants. In July, Hammerson sold its 50% stake in 9 Place Vendôme, Paris, to Irish investor Sloane Capital for around €340m.
Bids in for Kenmore portfolio
Kenmore is understood to have taken first-round bids on portfolio in Norway that it put up for sale in July. Project Kojak includes 14 office, retail and warehouse properties 100km from Oslo city centre. It has a leasable area of 52,509m2 and a net operating income of NKr37.7m (€4.8m). Kenmore is thought to be looking for a net initial yield on the portfolio of 6.5%.
