IMMOBEL, Whitewood and DW Partners finalise one of the most important real estate transactions in recent years with a view to redeveloping the iconic Centre Monnaie in the heart of the European capital.
On 16 May 2019, (Cityzen Residence SA, Cityzen Office SA and Cityzen Hotel SA), companies controlled by Whitewood, DW Partners and IMMOBEL, signed the deed for the purchase of the Centre Monnaie, with the aim of giving it a new lease of life to enable it to blend perfectly into the new pedestrian zone. A neighbourhood in the capital which IMMOBEL has been investing in for nearly ten years with a view to becoming the major developer in the area.
A well-established strategy
The acquisition of the Centre Monnaie is a strategic move for the Group and a further step in the development of the pedestrian zone. This is not IMMOBEL’s first project in the vicinity, and it has already attracted attention by winning the MIPIM Award for best urban refurbishment for the renovation of the Chambon complex, the former headquarters of the CGER. An iconic 50,000 m² building which the developer has transformed into a complex of apartments, offices, shared student accommodation, a hotel and a food market.
In the same vein, IMMOBEL has taken on other ambitious projects in the heart of the capital, including the Allianz headquarters (in partnership) on Place de Brouckère. A 50,000 m² slice of city within the city which the developer intends to refurbish by incorporating similar features to restore the centre of Brussels to its former glory.
A common vision
The partnership between IMMOBEL, Whitewood and DW Partners to purchase the Centre Monnaie (which, to date, has been owned by the City of Brussels and La Poste) is an obvious solution since Whitewood and DW Partners already own the neighbouring Multi-Towers and share the same vision for the future district.
The new Centre Monnaie will be an iconic site that has been totally redesigned to meet the urban needs of tomorrow. A renovation which the partners hope will be a benchmark of international importance, and a means of crowning the neighbourhood with a flagship building which will play an essential role in guaranteeing a better quality of life and an enhanced experience in Brussels.
The base of the three towers already houses the new shopping centre, known as The Mint, developed by AG Real Estate. It is therefore the 60,000 m² above the base that the partners will transform, by 2025, into a mixed complex of apartments, offices and a hotel.
The project in brief
• 60,000 m2 of apartments, offices and a hotel
• A strategic location in the centre of Brussels
• A world-class, cutting-edge, architectural renovation
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