REAL I.S AG, represented by international real estate advisor Savills, has re-entered the Belgian investment market after an eight year absence by purchasing the brand new Ernst & Young headquarters in Diegem, Brussels for ca. €35 million. The newly developed property was sold by UK developer SEGRO Slough Estates Group and marks an important deal for the Belgian investment market during 2009.

The 18,760 sq m (201,937 sq ft) built-to-suit office accommodation forms part of the key Pegasus Business Park and has direct front-row visibility of Brussels ring-road. Other tenants in the area include DHL, Bayer and Johnson Controls.

The property is let in its entirety to Ernst & Young on a lease expiring 2023 and offers the latest building technology and energy efficiency techniques. It was designed and constructed for Ernst & Young, who moved from its former building in the decentralised district in Brussels.

REAL I.S. AG comments: “We are very delighted about this investment and have taken the chance to further diversify our European portfolio. We are investing in a sustainable and attractive location with positive growth prospects. This property fits in perfectly with our investment focus on commercial properties in prime locations in major European cities. “

Savills Investment team adds: “Despite a lacklustre market, this deal proves the importance of the German funds during this stagnant trading period and should help kick start the second half of the year. With a clear lack of tradable quality, long-leases, we were successful in sourcing the right product for REAL I.S. AG.”

International real estate advisor Savills has launched a property and asset management service at its Belux operation.

The team of four, who joined Savills on 2 November 2010, are based at Savills Brussels office, Avenue Louise 81. Director and head of department Luis Vasconcelos with property manager Serkan Yigit, accountant Sevdet Donmez and assistant Daisy Collin join from DTZ and will provide property and asset management services for domestic and international landlords.

Luis Vasconcelos has over 20 years experience in the Belux property market and was previously managing director at DTZ, responsible for its property management and agency departments. Luis has a proven track record having secured several major instructions in his previous role including Siemens’ Belgian portfolio (75,000sqm) as well as the letting and property management instruction for the Glaverbel building owned by UBS.

Serkan Yigit has almost five years experience in the Belux property market having managed properties and portfolios such as the Glaverbel building (30,000sqm), Hermez Plaza (22,000sqm occupied by Honeywell and HP) and the Belgian Zeeman retail portfolio.

The team’s international clients have included UBS, Credit Suisse, Cordea Savills and DMI.

John Defauw Managing Director of Savills Belux, says: "This new business line is complementary to our existing valuation, consulting and investment advisory services and will help us to expand further to include agency services – an area in which we are looking to actively recruit. We are confident that our clients will appreciate the quality and professionalism of this new team."

For further information, please contact:

John Defauw, Savills Belux

+32 2 542 40 55

Gregory Martin, Savills Belux

+32 2 542 40 52