Brussels Office MarketView Q1 2020
Brussels office take-up recorded take-up of 67,000 sqm in Q1. This is down from recent years but in line with the medium term. Vacancy fell to 7.07% following a long-term trend, largely thanks to developers taking properties off the market for future development. This is contributing to a growing pipeline, though projects are now likely to be delayed by several months given the lockdown. Investment recorded an immense first quarter driven by the sale of the iconic Finance Tower (1.265 billion eur) in Belgium's largest ever single asset deal.