ION Residential Platform and developers LIFE & Miix sign 126-unit build-to-rent deal in Brussels
02/12/2024
ION Residential Platform (IRP) acquires 100% of the shares of Calevoet Land, the company owning the Archipel residential scheme in Uccle, Brussels, from developers LIFE and Miix. The project concerns the redevelopment of the former AstraZeneca office building and will offer 126 sustainable apartments.
This was an exciting opportunity to acquire a state-of-the-art and highly sustainable residential project on a strong location in Brussels. We firmly believe in the fundamentals of the Brussels rental market, which remains undersupplied. This is our largest transaction to date and marks another milestone as we continue to expand our Belgian build-to-rent portfolio.
"After our partnership in the realization of the project 'The Bunch' in Antwerp, we are particularly excited to collaborate with IRP for the second time. This transaction proves that it is possible to fully focus on quality of life and value creation, without making any concessions on sustainability, quality urban planning, and high-level architecture. Archipel ticks all the boxes of the Be Sustainable tool from Bruxelles Environnement. Thanks to its innovative concept, it is undoubtedly an important residential showcase project — not just for Brussels, but for all of Belgium."
- Toon Haverals, Managing Partner of LIFE
- Toon Haverals, Managing Partner of LIFE
Sustainable project
The project, designed by architectural practice &bogdan, will consist of 126 apartments across 5 blocks and up to 5 storeys in height, as well as 1,176m² of commercial areas. The apartments range from studios to 4-bedroom apartments, with sizes from 51m² to 156m², all with outdoor terraces. As such, a wide range of tenants will be targeted.
"It is wonderful to see that we are reaping the rewards of our quality approach. The differentiated and sustainable supply of residential units within walking distance of various public transport amenities perfectly responds to the growing demand for rental apartments. Furthermore, the integration with the commercial functions and the connections to the Keyenbemptpark add value to the entire station neighborhood. Specifically for Miix, this is a flagship project that we are extremely proud of, as it is also our first project under construction. We would like to thank all our partners involved."
- Darel Torremans, Managing Director of Miix
- Darel Torremans, Managing Director of Miix
The residential units will be very energy-efficient, fitted with geothermal heating and photovoltaic panels. The adjacent Keyenbempt Park will be extended onto the project site, ensuring the buildings are harmoniously embedded in a communal park environment. This will contribute to the project’s strong ESG credentials and will also be a major asset for future residents.
ION Residential Platform was advised by Stibbe (legal), PwC (tax) and Alias (technical). LIFE and Miix were advised by Linklaters (legal) and Clifford Chance (tax). The value of the deal is not being disclosed.