M7 Real Estate has, on behalf of M7 Islay, sold the “Gare du Nord” mixed use office and industrial asset (www.garedunord-eindhoven.nl) located at Brussellaan 2 / Ukkelstraat 2 in Eindhoven to VB Groep for €4.4 million.
The asset comprises circa 2,400 sq m of industrial space at Brussellaan 2 and approximately 3,170 sq m of office space at Ukkelstraat 2. The asset was acquired in 2016 following which it was totally renovated and re-branded with a “Gare du Nord” theme. As a result, occupancy increased from 15% to 100% with tenants including REA College, Leningvisie, Raysol and Stichting Dorcas.
Christiaan Ilias, Senior Asset Manager at M7 Netherlands commented: “We are very pleased with the sale of the asset to VB Groep. It demonstrates that our on the ground asset management team understands the local market with the rebranding successfully achieving full occupancy and the subsequent sale delivering strong results for our investors.”