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Anspach (apartments)

 
Name Anspach (apartments)
Address Boulevard Anspach/rue des Fripiers/rue Gretry/rue de l'Evêque
1000 Brussels
Size 3,500
Type Residential
Status Integrated in the AG RE portfolio in 2011


Concept

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Description

The Anspach is a mixed-use property which has been artfully restored to preserve the character and historical integrity of the original structure.

THE ANSPACH, RESIDENTIAL APARTMENTS

These 23 luxury apartments, each with their own designated parking space, are ideally located in a desirable residential neighbourhood. Six units have been rented out separately; three have been rented to the casino whilst the remaining 14 are under contract to a short-term rental agency for the next nine years. Annual income represents a 4% share of total Anspach property income.

The ANSPACH is also A SHOPPING GALLERY

Winner of the BRLW retail award in 2011, the commercial space features 19 retail units totalling 7,300 m². The exceptional flagship location as well as unit size and configuration have attracted an exciting range of international retailers, bringing in H&M, New Look, Maisons du Monde and La Grande Récré as anchor tenants. The retail portion of the Anspach property represents a 33% share of total income.

AN ENTERTAINMENT CENTRE

The 13,500 m² leisure portion of the property is fully occupied by high quality tenant Casinos Austria International, which has signed a 15-year fixed-term lease. In addition to the new rooftop restaurant which features breathtaking views of the capital, Casinos Austria also operates the theatre as well as Brussels’ only casino. The Anspach is the only property in the city of Brussels that is licensed to run a casino.

Annual income from Casinos Austria represents a 47% share of total income for the property.

AN APART’HOTEL

With its 6,200 m² and 140 well-equipped rooms, the apartment-hotel portion is fully occupied, leased to Pierre & Vacances (18-year fixed-term contract). Managed by Adagio, a joint venture between Pierre & Vacances and the Accor Group, the apart’hotel  is the ideal alternative to staying in one of the more traditional luxury hotels in the area, providing guests with the privacy of their own apartment while enjoying the convenience of a hotel Strategically located in the  centre of Brussels and complete with a range of facilities and amenities including   a fitness centre, a laundry room and  Internet access, the apart’hotel attracts many international visitors to the capital of Europe. Annual income represents a 16% share of total income for the property.​

Location & Accessibility

Issues At Stake

 

Key Elements

STRENGHTS

  • Outstanding location in the historical and cultural heart of Brussels and at the southern end of rue Neuve
  • Easily accessible by public transport: the Anspach is located above the De Brouckère metro station
  • A high quality and attractive architectural development spanning 30,500 m², the complex was completely rebuilt in 2009  while leavingthe original façades intact
  • The average weighted unexpired lease term is more than 11 years
  • Well diversified income stream with long term secured cash flows: 33% of rental income comes from retail, 47% from leisure, 16% from the apart’hotel and the remaining 4% from the residential apartments
  • 7,300 m² divided into 19 superbly configured flagship retail units located in one of Brussels’ most easily accessible shopping areas,, further cementing rue Neuve’s position as one of the most expensive shopping streets in the country. Multi-lease property withhigh quality tenants including H&M, Tommy Hilfiger, New Look, Belgacom, Maisons du Monde,etc.
  • Winner of a highly prized retail award in 2011 (BLRW Shopping Award)
  • 13,500 m²  of sheer creativity:  a five-story entertainment centre  complete with a rooftop restaurant, a casino and a theatre.
  • The only complex in Brussels with a licence to run a casino
  • A four-star 6,200 m² apart’hotel in one of Brussels’ best-known neighbourhoods
  • 23 residential apartments totalling 3,400 m²

PROJECT TEAM

  • Developer: AG Real Estate
  • Architects: Archi 2000, Montois Partners Architects, Atelier du Sart-Tilman
  • General Contractor: Les Entreprises Louis de Waele & Valens
  • Stability Engineering: VK Engineering
  • Special Techniques Engineering: Technum - Tractebel Engineering
  • Control: SECO​

Architects

Archi 2000, Montois Partners Architects, Atelier du Sart-Tilman

"The development of the Anspach property is a true architectural labour of love. The architects were looking to challenge design conventions by doing more than just building around the historical structure. They wanted to rethink volumes and functions, incorporate forward-looking solutions, and create an aspirational lifestyle with aesthetics that would stand out among the ordinary and the mundane. At the same time, they had to address the challenge of preserving the original building façades, many of them designed by famed Belgian architects such as Polak (rue de l’Evêque), Petit and Olive (boulevard Anspach) and Victor Horta (rue Grétry), and seamlessly integrate the new ensemble into the urban environment.The exterior is all about the building angles, modernising and integrating them with the existing façades. As for the interior, the building was completely redesigned to improve functionality and accessibility. Belgian artist Vincent Strebelle was commissioned to make a unique contribution to the aesthetic experience. Highlights include his beautiful poetic touch to the balcony railings and the nearly 95 polished three-meter wide stainless steel mirrors that adorn the gallery walls."​

Shared Experience

​ "The story of the Anspach property started more than 200 years ago with a small company called Grand Bazar du Boulevard Anspach. At the time, the company owned just a handful of houses on boulevard Anspach. Driven by a dream to turn the entire St-Géry island into one of the most popular retail locations in the country, the Grand Bazar has grown steadily  over the years, swallowing up the various properties that currently make up the Anspach complex.

After 170 years of dedication and commitment, as well as several major refurbishments later (led by architectural giants Horta, Olive, Petit and Polak), the City of Brussels acquired the property in 1984, and the current owner has since been running the Anspach as a shopping gallery with long-term leaseholding agreements. With the recent reconstruction of the site, a new chapter has now begun in the history of the Anspach.​"

Alain De Coster, Chief Development Officer

 

Technics

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Plans

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Documents