Home Invest Belgium : acquires a new building project in Turnhout

Under embargo until 07/12/2020 - 5:40 pm

Home Invest Belgium acquires a new building project in Turnhout

7 December 2020 - Brussels: Home Invest Belgium, the specialist in residential rental property, is further expanding its presence on the Flemish market with a new development project in Turnhout. The real estate company acquired a parcel of land in the "Niefhout"1 site of real estate investor and developer ION. The site, located in the Diksmuidestraat in Turnhout, is part of a large-scale project in the centre of Turnhout, in the immediate vicinity of the railway station and numerous shops. The project is unique and will bring a new dynamism to the city centre by creating 92 modern, innovative and affordable dwellings on this site. In addition to the residential function, sustainability is central, including the creation of a number of green spaces, a concept of shared cars and a heat network for the residents.

On 7 December 2020, Home Invest Belgium has undertaken to develop a residential project on the "Niefhout" site together with ION. The above-ground surface of the project amounts to 7,800 m² and comprises 92 residential units, 47 parking spaces, bicycle sheds and a commercial unit. The residential units are distributed as follows: 10 studios, 48 one-bedroom appartments, 9 two- bedroom appartments and 4 three-bedroom appartments. Most of these appartments will have a terrace. With the experience gained by Home Invest Belgium in the 'The Horizon' project in Woluwe-Saint-Lambert(Brussels-Capital Region), a number of services and functionalities will be made available to the residents, such as common work and leisure areas, a laundry, common work areas and drop boxes to facilitate deliveries. But also, for example, the monitoring of energyconsumption and access control, all within an advanced IT environment.

1https://niefhout.be

In this way, Home Invest Belgium uses its know-how and unique position as a long-term partner for a sustainable broadening of the living experience of the future residents, and by extension of all stakeholders of the whole project as a community.

The project was acquired for a total amount of about € 3 million. The purchase was financed with available credit lines from the RREC.

The total investment (including studies, taxes, development, works, ...) will amount to approximately € 15 million. The gross initial yield is estimated at around 5% once the building will be fully occupied. Provisional acceptance of the works is scheduled for 31/12/2022.

Sven Janssens, CEO of Home Invest Belgium: "We are very excited about this new development project in the centre of Turnhout. The "Niefhout" project is particularly dear to us because of its modern, innovative and sustainable concept that perfectly fits the values and strategy of our company. Its location in the city centre, in the immediate vicinity of public transport and shops, is also an important asset for the future residents. We would therefore like to thank the city council of Turnhout and our partner ION for their trust and belief in the values that we are realising together with this project."

FOR ADDITIONAL INFORMATION

Sven Janssens	Preben Bruggeman
Chief Executive Officer	Chief Financial Officer
Tel: [phone]	Home Invest Belgium
E-Mail:[e-mail]	Boulevard de la Woluwe 46, Box 11
www.homeinvestbelgium.be	B - 1200 Brussel

About Home Invest Belgium

Home Invest Belgium is a Belgian public regulated real estate company (GVV/SIR) specialised in the acquisition, sale, development, letting and management of residential real estate. On 30 September 2020, Home Invest Belgium held a real estate portfolio worth €640 million in Belgium and the Netherlands.

Home Invest Belgium has been listed on Euronext Brussels [HOMI] since 1999. On 30 September 2020, the market capitalisation amounted to € 389 million.