Intervest Offices acquires office building "Exiten" in Zellik
Intervest Offices has obtained control over Zuidinvest nv, owner of
the "Exiten"-building in Zellik, with an occupancy rate of 96%, for
an amount of 8.490.000 euro, at a gross yield of 7,35%.
This company is the owner of an ideally located office building,
highly visible and close to exit 10 of the Brussels Ring road in
Zellik. The office is easily accessible with public transport (train
and bus connections at walking distance). For years, Intervest
Offices is already familiar with this region as its fully rented
Inter Access Park is also located here.
"Exiten" is developed by CIP nv in 2002. The building has an
attractive architecture according to the design of the architect's
firm M&M Jaspers, J. Eyers and Partners.
The building has a lettable surface of 3.880 m² and is rented for 96
% to 5 tenants, namely Gras Savoye, IFM Electronic, Interelecta,
Sapsa Bedding and Interbati. For the vacant space, a rental guarantee
has been obtained from the sellers till 30 June 2008. The gross
rental income amounts to 624.000 euro on a yearly basis.
"Exiten" is a classic, technically advanced office building with a
modulation of 1,50 meter. The air conditioning is accommodated with
active cooling boxes. The building is equipped with raised floors and
is easily subdividable.
Through this investment Intervest Offices takes a first step in its
aim to further improve the quality of its portfolio by reinvesting
the financial means, recently received from the sale of five office
buildings at the end of 2006, in high quality buildings at a proper
yield.
Jean-Paul Sols, CEO Intervest Offices: "This acquisition provides us
a particular interesting gross yield of 7,35 % with a spread rental
risk. The investment immediately contributes to the distributable
operational result. Furthermore, "Exiten" is located in a submarket
of the Brussels periphery that knows increasing interest from tenants
as well as from investors."
30 May 2007
Note to the editor: for more information, please contact:
INTERVEST OFFICES nv, Jean-Paul Sols - CEO, tel: 03/287.67.67
For the entire pdf-version with photo of this press release, please
click on the link below:
