Prupim has bought the long leasehold to a 139,932 sq ft office building in Brussels for €39m (£28m).
The building was bought on behalf of the Prupim managed M&G European Property Fund, and is thee company’s first purchase in Belgium. It was bought from Fortis, and the deal reflects a net yield of around 5.7%.
‘This acquisition gives the M&G European Property Fund exposure to an additional key office market, complementing its existing presence in the Netherlands, France, Germany and Sweden,’ David Jacksson, fund manager at Prupim, said.
Prupim has also appointed William Rooke as development manager at Prupim Developments. He will report to Bob Radley, Prupim’s director of property development, and work on projects including The Hub in Birmingham and The Green in Solihull.