Immobel enlarges its Luxembourg portfolio with another office building

Immobel enlarges its Luxembourg portfolio  with another office building

On October 16th 2020, Immobel Holding Luxembourg S.à.r.l acquired the shareholding of the Beiestack S.A. company, owner of the ”Scorpio” office building located at 1, Rue Hildegard von Bingen, L­-2557 Luxembourg.

The building is currently leased to BOS (Business Office Services) until the end of September 2025. At the end of the lease term, it will be possible to totally restructure it into a building of high standing, and to enlarge it from 3,086 m² to 3,693 m², in line with the General Planning Charter (Plan d’Aménagement Général.)

Located in the heart of the Cloche d’Or, the building will retain its vocation as offices, while benefiting from its immediate proximity to all of the facilities set to be provided by this rapidly expanding district where are to be found the tramway, shops, restaurants, childcare centres and other services. The building will also have the advantage of an attractive environment, bordered by the public park which runs alongside the laid-out banks of the River Drosbach.

“An office building at a human scale, ideally located in the heart of an established business district, Scorpio represents an investment project which is at once liquid and resilient faced with economic cycles. Its redevelopment into a ‘Grade A building’ and its location in one of the best districts of Luxembourg will make of it a genuine core asset”, explains Muriel Sam, Head of Development, Immobel Luxembourg.