Development Group Buys €80m Brussels Site
The Irish Times (Business This Week), 16th February 2007Irish property development group Thornsett has purchased a site in Brussels with a development value of €80 million.
The site is located in the "European quarter" of Brussels and has full planning permission for a four-star hotel, retail space and 108 apartments. Construction will begin in autumn this year and completion is scheduled for 2009.
"We believe that the hotel has wonderful potential due to its central location and the apartment units will appeal equally to owner occupiers as well as investors," said Peter McCarthy, Chief Executive Officer of Thornsett Group Ltd.