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Alides continues to expand its Brussels development portfolio

08/12/2021

Residential

Alides continues to expand its Brussels development portfolio

Ghent/Brussels – December 8, 2021 - With the purchase of the site located at the Avenue de Tervueren 182 and the rue du Duc 92/94, the Ghent based developer and investor Alides once again confirms its explicit ambition to expand its development activities in Brussels. The former head office of the Sugar refinery of Tienen (Tiense Suikerraffinaderij), located on one of the capital's most prestigious avenues, has all the strenghts to become a successful new development, which is in line with Alides' strategy.

Upgrade of buildings and streetscape

The vacant and outdated office building on the Avenue de Tervueren and the residences on the rue du Duc are in need of renovation, a challenge that Alides accepts to take up. The exceptional location offers ample opportunities and Alides has the ambition to develop a new and sustainable project that will also upgrade the streetscape, in consultation with the neighbourhood and the local authorities. 
By focusing on the preservation of the existing structure at the Avenue de Tervueren, Alides also gives the necessary attention to the circularity requirements that are currently applicable to this type of project.

International, ambitious growth strategy

"This latest acquisition fits perfectly into the ambitious growth strategy of our family group. Revitalising outdated real estate on top locations in the core cities of our country, as well as in Poland and Luxembourg, has already been the focus of Alides for a long time", says CEO Rikkert Leeman.

Tiense Suiker was assisted in the purchase of the site by Cushman & Wakefield, Capital Markets. The transaction value was not disclosed. 

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