ING REIM to sell Gent Zuid
ING REIM is selling a mixed-use asset in Belgium for around €60m. The property, known as Gent Zuid, includes a 11,000m2 mall and around 14,000 m2 of office and residential space. CB Richard Ellis’s Belgian bureau is advising ING.
BL markets London bank HQ
British Land is marketing the head office of Spanish-owned bank Abbey at 2-3 Triton Square, north-west London, for £120m (€137m), reflecting a 6.85% yield. The 18,581 m2 block is let to Abbey until 2022. BL is also selling a stake in its 445,935 m2 Broadgate Estate in the City.
Ethias buys Belgian office
Belgian insurance firm Ethias has spent €40m on a 11,400 m2 office scheme in Antwerp. The project was sold by developer Kaïros and is scheduled for completion in September 2010. Belgium’s customs department will pay around €2.3m a year to rent the asset until 2028.
Stephen Smith
Stephen Smith, global head of asset management and transactions at AXA Real Estate Investment Management, has asked us to clarify that he has not resigned (EuroProperty 02.02.2009) but that he plans to retire. AXA REIM has hired recruitment firm Korn/Ferry to find a replacement. Smith will continue in his current role for the medium term in order to ensure a smooth handover. “We need to identify a suitable replacement, following which there will be an overlap between me and the new guy.” Smith said. We apologise for any confusion caused.
