Adagio Access Brussels Europe

Rue de l'Industrie 12, Bruxelles, 1000, BE

Description

Purpose-built modern aparthotel, opened in July 2012, the asset comprises 97 studios and 13 apartments (all with kitchenettes) arranged across basement, ground and eight upper floors, with on-site amenities including a laundry room, breakfast bar/café and mini market.

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Attributes

Units

110

Year built

2012

Media

Investment highlights

Robust fundamentals: Purpose-built asset (2012) with excellent trading performance and robust rent coverage.
Long-term lease (usufruct): Secured with Pierre et Vacances through to 2043, featuring fixed rent with annual CPI indexation and two prolongation options (unlikely to be exercised given the robust trade), with no ownership expenses.
Strong Covenant and robust trading performance: Benefits from a corporate guarantee from Pierre et Vacances, a strong covenant bearing a 5A2 Dun & Bradstreet credit rating as well as strong rent cover ratios.
Strategically positioned: Situated in Brussels' European District, the city's largest office hub, surrounded by European institutions, embassies, and corporate headquarters.