The Mondrian in Brussels’ ‘European district’ sells for €131.5m

18 July 2019

The Mondrian is recognised as a landmark building in one of the best business addresses in Brussels, the “Quartier Léopold,“ also the well-known EU district. The property has been fully let to the European Commission for 13 years and is mainly used for the Commission’s research and development activities.

Gregory Martin, Managing Director, Savills Belux, comments: “International investors have been actively chasing investment grade assets in Brussels and the strength of competition in the marketplace has created some yield compression. Through its acquisition of The Mondrian,  Union Investment has set a new record in the Belgian office market. “

Designed by ASSAR architects and developed by Allfin, the Mondrian project was built in 2004 and won the MIPIM Awards 2005 in the ‘business centre’ category. It comprises 19,297 sq m of Grade A office space, plus storage and 185 parking spaces, arranged over four basement, one ground and six upper floors.  The building was designed to include two independent wings which are inter-connected by a walkway and it offers some of the largest floor plates in Brussel’s CBD, with typical floor areas comprising more than 3,000 sq m.

 
 

Key Contacts

Gregory Martin

Gregory Martin

Managing Director - MRICS
Investment

Savills Brussels

+32 (0) 2 542 4052