On 10 February 2016, Belgian Land nv and ION Holding bvba signed an agreement with Home Invest Belgium for the sale of 100% of the shares in the private limited company HBLC bvba, which is currently executing the residential redevelopment of a plot located in Sint-Jans-Molenbeek, on the corner of Célidéestraat 29-33 and Joseph Scholsstraat 13.
Belgian Land nv and ION Holding bvba acted as cooperating partners in this project, each contributing a 50% share. This excellent partnership allowed them to secure the necessary urban development permits for the redevelopment of these former office buildings. This project’s ambition is to achieve genuine integration in this neighbourhood by opening up the site for new green spaces. Three apartment buildings will enclose a spacious communal garden. A total of 96 apartments and a day care centre are to be constructed on the plot of about 8,995m2.
Belgian Land is the result of a partnership between Bank Degroof Petercam and estate agent CBRE. Its activities were launched in March 2013, after nearly 55 million euros in capital were raised. Belgian Land is currently a cooperating partner in various large residential real estate projects in Brussels and has become an important player in the market.
ION is a property developer and real estate investor, active throughout the Belgian territory. ION specialises in mixed and complex projects, combining residential and commercial real estate. ION is active in speculative development and public-private partnerships, as well as in custom-made projects.
“Célidée is Belgian Land’s first project, which was initiated in November 2013. The sale of the project to an institutional investor, after having obtained an ambitious urban development permit, is Belgian Land’s first venture, and a highly successful and fruitful one at that,” explains Emilie Rousseaux, Fund Manager at Belgian Land.
Kristof Vanfleteren, Managing Partner at ION, adds: “ION’s first residential project in Brussels proves the added value of a property developer like ION, especially when dealing with office buildings that are to be redeveloped into a residential, innovative, intra-urban project. ION is proud to have contributed to this project.”