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.

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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