The KONS building, developed by the IMMOBEL Group, BPI Luxembourg and BESIX RED, is fully completed and delivered

IMMOBEL SA, BPI Luxembourg S.A. and BESIX RED SA have definitively transferred  shares from PEF KONS INVESTMENT S.A. to AXA IM ‐ Real Assets on behalf of   AXA Belgium. 

Press releases

The renovation of the KONS building in the centre of Luxembourg city, in front of the railway station, was  characterised by the development of the former "Galerie KONS" in a high‐performance building ‐ certified  by BREEAM as "Very Good" ‐ 20,600 sqm above ground, including 14,600 sqm of offices, 2,400 sqm of shops  and 3,500 sqm of accommodation.  

The three promoters (the IMMOBEL Group, BPI Luxembourg and BESIX RED) worked in close collaboration  to carry out this renovation project designed to help revitalise the station area.  

A “double coup” for ING Luxembourg 

ING took over the majority of the 14,600 sqm of office space. The bank thus has a new headquarters, ideally  located in front of the station, as well as a new agency. 

"The move  to our new headquarters will enable us  to unite all our staff currently located in four central  buildings  in  Luxembourg  City,  about  700  employees,  as  well  as  our  commercial  and  administrative  activities", declared Monique Chalon, Program Manager of the project at ING.

The immediate vicinity of the station will allow the new occupants to benefit from incomparable mobility.  

A second wind for the Galerie KONS 

The new urban complex reorganising the “Galerie KONS” offers a significant increase in office space, the  creation of 32 accommodation units, as well as shops on the ground floor. The project certified as "Very  Good"  by  BREEAM  (for  the  office  building)  is  distinguished  by  a  highly‐quality  renovation  in  terms  of  sustainable  construction  and  environmental  performance,  including  green  roofs  and  three  vegetated  interior courtyards. Entrusted to the Luxembourg firm M3 Architectes, the former “Galerie KONS” has been  completely  reconstructed,  with  only  the  car  parks  being  conserved  and  renovated.  This  conservation  requirement and the constraint regarding settlements in dense urban environments has led architects and  engineers to resort to a mixed steel‐and‐concrete structure for the offices. A technical challenge recently  awarded  the  prize  "Ingenieurpreis  des  Deutschen  Stahlbaues  2017".  The  building  also  includes  an  auditorium with 120 seats and an atrium stretching over five levels and joining together the various office  spaces.  

The project is fully completed and delivered 

In July 2014, tempted by the exceptional location of the project and its high performance, AXA IM ‐ Real  Assets  pledged  to  acquire  PEF  KONS  INVESTMENT  S.A.,  owner  of  the  KONS  building,  on  behalf  of  AXA  Belgium, subject to the fulfilment of certain conditions. The lifting of these conditions, including the lease  by  ING  of  the  majority  of  the  office  space,  made  it  possible  to  finalise  the  transaction,  amounting  to  approximately 159 MEUR. 

Although there are 2,500 sqm of office space, as well as a few available parking spots, all commercial and  residential spaces have been bought. 

For more information:
Jacques Lefèvre and Arnaud Regout
Managers, BPI Luxembourg  
+32 (0)2 663 60 10   

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