IMMOBEL Luxembourg Acquires Thomas S.A.

IMMOBEL Luxembourg, a subsidiary of the IMMOBEL Group, has expanded its real estate development portfolio in Luxembourg with the acquisition of Thomas S. A..

As of Tuesday 31 July 2018. IMMOBEL Luxembourg acquired Thomas S.A., the owner of the administrative building located at 1 rue Thomas Edison in Strassen. Situated at the entrance of a neighbourhood undergoing complete redevelopment, the building benefits from excellent visibility, in immediate proximity of Route d’Arlon, which is, in turn, served by the main roads in the country and, in future, by the tramway.

Covering 5,700 m², 1 rue Thomas Edison proposes long-term occupancy thanks to a lease running until 2027. The asset also benefits from an excellent rate of occupancy of 90% by three established organisations, two of which have been present in the building for more than ten years: public research insititution the Luxembourg Institute of Health (LIH), territory relocation specialist Business Office Services (BOS) and Patiente Vertriedung, a specialised association in the legal counsel for health procedures. Very soon, the building will also offer the rental of its last two floors of offices, which possess surface areas of around 270m² respectively.

Through this acquisition, IMMOBEL Luxembourg is showing its capacity to invest in diversified projects in the interest of extending the lifecycle of its portfolio, positioning itself as a versatile player in the chain of real estate operation in Luxembourg.

The property was sold by a private seller and the transaction was handled by INOWAI.