Ghelamco seeks buyer for €200m Brussels tower

Belgian developer Ghelamco is seeking €200 mln for the Silver Tower development in Brussels, or a yield well below 3.25%, experts say.

Ghelamco, which as recently as last month sold the Spectrum office building in the Belgian capital in a €105 mln deal with Deka, is said to have received several offers for the property which is still under construction, with completion planned for late next year.

'Many investors are on it, as the level of rent is extremely low,' said a market expert who wished to remain anonymous.

Agent CBRE is marketing the building, which will offer around 40,000 m2 of space over 32 storeys. The asset will be home to 2,000 officials of the Brussels-Capital Region, the political subdivisions of Belgium’s central region.

Last year Ghelamco, together with its investment partner Madison International, also sold its landmark Warsaw Spire Tower to Immofinanz for €386 mln.

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