Credit: Eaglestone
Real estate developer Eaglestone Luxembourg has announced the sale of 100% of its shares in N.05 Alfa-Arcades S.A. to the Real IS A.G. Group.
The Real IS Group has acquired the shares in the company that owns The Arc project, a mixed-purpose building with a total surface area of 3,387 m2 located opposite Luxembourg's Central Railway Station at 78-80 Avenue de la Liberté.
Behind the old Art Déco-style façades, a new contemporary luxury project will be developed, offering office space, accommodation and retail outlets in Luxembourg-Gare. The project is aimed at contributing to the renewal of this district as a whole, in particular at the junction between Avenue de la Liberté and Avenue de la Gare, including the refurbishment of the Alfa Marriott hotel and the reorganisation of Place de la Gare.
In terms of mobility, the project is located directly opposite the central station, tram stop and bus platform and close to a number of public car parks.
Eaglestone Luxembourg purchased these shares in N.05 Alfa-Arcades in 2018.
Imagined by Eaglestone and designed by Ballinipitt, The Arc proposes seven floors offering 2,649 m2 of offices, for one or more occupants, a residential floor and two retail units on the ground floor. The building also includes terraces and outdoor spaces. In order to comply with the new environmental performance standards, it will benefit from BREEAM Excellent certification at the time of its completion scheduled for autumn 2023.
BNP Paribas Real Estate steered the transaction for which the legal advisors were Loyens & Loeff in Luxembourg for Real IS and the DSM law firm for Eaglestone.
Eaglestone Group is a property development and investment company active in Belgium, Luxembourg and France.
