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Real-time Euronext Bruxelles  -  11:35 2022-08-18 am EDT
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06/20ATENOR : commits to sustainable renovations with Nagelmackers HQ purchase in Brussels
06/09ATENOR : Week from 30.05 to 03.06.2022
05/31ATENOR : Période du 02.05.2022 au 27.05.2022
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ATENOR : commits to sustainable renovations with Nagelmackers HQ purchase in Brussels

06/20/2022 | 02:24pm EDT

Press release

La Hulpe, 20 June 2022



ATENOR SA, via its subsidiaries Highline SA and Soap Factory SA, has purchased the Nagelmackers headquarters on Avenue de l'Astronomie 23, 1210 Saint-Josse-Ten Node in central Brussels and its adjoining land parcel on Rue Potagers 15-29, 1210 Saint-Josse-Ten Node from a subsidiary of Deka Immobilien Investment.

The landmark 8.500 sqm office property is located in the most prestigious corner of the ring road, overseeing the former meteorological institute as well as being a vantage point with outstanding 360° views around Brussels directly onto the Botanique quarter as well as the EU quarter. Highline will become an outstanding fully re-stripped office project once the Belgian Bank Nagelmackers leaves early 2023. Its strategic location faces the quiet and calm Henri Frick park and corners the borders of the EU quarter and Pentagon quarter.

Furthermore, the main classic front building is linked to the annexed property both linked by a serene garden. A heavy green renovation will be foreseen for the office properties, in line with ATENOR's sustainability policy. BREEAM "Excellent" will be a minimum target for Highline whilst material reuse, circular economy, nearly-zero energy-efficiencyand taxonomy alignment will be key principles in the re-design and studies which will be imminently launched for the Highline office project.

Additionally, the acquisition by Soap Factory SA involved the 872 sqm adjacent land parcel backing onto the Rue Potager which currently occupies overground parking and will serve part of a future residential study.

«We are extremely proud to be urban developers and strongly believe in the changes that Brussels is going through. With the acquisition of the Nagelmackers site, a renowned landmark property in this important vantage point, the reconversion and new-build combination was quite rare in today's market, so we knew immediately this deal would tick many boxes for ATENOR» Sheelam Chadha, Country Director for ATENOR commented. «Thanks to Deka, we were able to easily collaborate and conclude this deal together. Additionally, we strongly believe in the Brussels real estate market and this deal will be one of many which shows our commitment to urban regeneration in Brussels» Chadha continued.

Clifford Chance and Treex assisted ATENOR in the acquisition. ATENOR Belgium currently has around 300.000 sqm of development pipeline ongoing. Highline and Soap Factory will be its 10th and 11th project in Belgium.

ATENOR is an urban real estate development company with European expertise, listed on the Euronext Brussels market. Its mission isto respond to new requirements for the evolution of urban and professional life through sustainable urban planning and architecture. ATENOR achieves its mission by investing in large-scalereal estate projects that meet strict criteria in terms of location, economic efficiency and respect for the environment. Reuters ATE0.BR - Bloomberg : ATEB BB

For more information, please contact Stéphan Sonneville SA, CEO or Sheelam Chadha, Country Director for For Artemis SC srl

+32-2-387.22.99 - e-mail :info@atenor.eu - www.atenor.eu


Atenor SA published this content on 20 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2022 18:23:09 UTC.

© Publicnow 2022
All news about ATENOR
06/20ATENOR : commits to sustainable renovations with Nagelmackers HQ purchase in Brussels
06/09ATENOR : Week from 30.05 to 03.06.2022
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Net income 2022 64,3 M 65,2 M 65,2 M
Net Debt 2022 - - -
P/E ratio 2022 5,67x
Yield 2022 5,15%
Capitalization 348 M 353 M 353 M
Capi. / Sales 2022 1,94x
Capi. / Sales 2023 1,56x
Nbr of Employees 104
Free-Float 47,0%
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Income Statement Evolution
Mean consensus HOLD
Number of Analysts 2
Last Close Price 51,80 €
Average target price 63,00 €
Spread / Average Target 21,6%
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Stéphan Sonneville Chief Executive Officer, MD & Executive Director
Sidney D. Bens Chief Financial Officer
Frank Donck Non-Executive Chairman
Andrea Pataki Administrative Assistant
Nadine Lemaître-Rozencweig Independent Director