At the end of June 2021, a general deed of acquisition was finalised for the sale of a family estate.
The family owned a number of real-estate assets in Brussels. A private investor, who is a BuyerSide client, is buying the three properties in a single transaction.
The three buildings that make up the portfolio may be considered ‘reasonably prudent’ investments.
Nicolas Vincent, Managing Director and co-founder of BuyerSide says: “This set of properties is a typical example of what our clients are looking for… We have a great ‘appetite’ for this type of property. This is our preferred ‘playing field’ for our residential department.”
The portfolio consists of three full blocks, one in the rue Jourdan district in Saint-Gilles, one in rue Edgard Tytgat, in Woluwe-Saint-Lambert, and the last in rue Champ du Roi, in Etterbeek.
Many families own properties that are sometimes complicated to pass on to future generations because younger people are not interested or quite simply because the number of owners multiplies as the successions progress. The properties finally have to be sold so that everyone can go their own way and possibly start again with something else. Not to mention the fact that selling allows a movable property donation, which is more advantageous in terms of tax.
Nicolas Vincent, Managing Director and co-founder of BuyerSide adds: “The transaction was completed quickly and without the assistance of legal/tax consultants. This was an fully off-market dossier. One of the three properties was not recognised as a building suitable for letting, but our client was prepared to take the risk of acquiring all three, despite this uncertain urban planning situation. It was also sensible for the family to sell everything together as this meant that they would not be left with a non-compliant building. So this was just the sort of ‘win-win’ transaction that we like.”
Through this transaction, BuyerSide is strengthening its position as a consultant on acquisitions in the residential sector and the purchase of family estates: We are increasingly seen as a buyer in our own right… Sellers contact BuyerSide directly to offer their properties for sale. They know that we represent a large number of potential buyers, without the seller having to allow for a fee” Nicolas Vincent explains.