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30 October 2020

BNP PARIBAS REAL ESTATE NAMED EXCLUSIVE REAL ESTATE ADVISER BY PROXIMUS

BNP Paribas Real Estate has been appointed to an exclusive real estate adviser role by Proximus, the leading telecommunications firm in Belgium, as part of real estate restructuring relating to its headquarters in Brussels.

BNP Paribas Real Estate has been appointed to an exclusive real estate adviser role by Proximus, the leading telecommunications firm in Belgium, as part of real estate restructuring relating to its headquarters in Brussels. This work is an integral part of the telecommunications company's #inspire2022 strategy.

BNP Paribas Real Estate's work will involve supporting Proximus in discussions and developments around its real estate programme for its new headquarters. Even though nothing is off the table, discussions are currently focusing on establishing a partnership with a developer. This partnership would either be part of a sale and rent-back scenario after the current site is modernised to cater to future requirements, or for the purposes of taking up a new site after the Proximus Towers are sold.

 "This type of transaction on a real estate complex of this size is undoubtedly exceptional and rare. In addition, the complex is in a district undergoing significant changes, where the major challenge involves incorporating real functional diversity into a service sector district. We strongly believe that this will create excitement among market operators, who will see a unique opportunity for redevelopment", says Gregoire de Montpellier, Belgium Advisory Director at BNP Paribas Real Estate.

 Indeed, the Proximus Towers are iconic buildings known by everyone, towering above the city of Brussels. Their highly prominent location within walking distance of Brussels North station has emerged as one of the city's leading office destinations, thanks to its exceptional transport links and high-quality office spaces. The real estate complex is made up of three buildings, with a total built area of 105,000m².

 Proximus' future headquarters will have to match and reflect the telecommunications group's architectural and environmental ambitions, as well as its ambitions covering well-being at work. The group plans to take up its new headquarters by 2023-2025.

 "In this current climate where we are continuing to digitise our workplaces, a company's building plays a major and essential role. Indeed, it is still a place for socialising, training, guidance and identity, and features significantly enhanced technological systems. An office building, particularly the headquarters, is a kind of shop window for the company. This does not mean that offices will necessarily be smaller, but it does mean that they will be a more appropriate size to accommodate the working methods of the future. We are certainly moving towards an even more hybrid model, with the proven success of working from home and the essential role of a company's headquarters, which really is its mothership", explains Bertrand Cotard, Letting & Sales Director at BNP Paribas Real Estate.

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