Thornsett Group

Leopold Village, Belgium

Leopold Village, a €80 million mixed used development, is (Irish developer) Thornsett Group’s most significant Belgian scheme located in the ‘European’ quarter of Brussels, 250 metres from the European Commission and Parliament buildings and overlooked by the Council of Ministers building.

This development will include 108 studios, one-, two-, three- and four bedroom apartments and 465 square metres of retail space (for a restaurant, bars and upmarket retailers) with parking. Thornsett has signed Starwood Hotels and Resorts to be its hotel partner, and Starwood will use the location to develop the first ultra modern 150-room branded hotel in Europe, to bring loft-inspired design to the centre of Brussels.

The development has been designed by architect Pierre Blondel Associates and is contemporary in style with properties in three separate buildings, one of which is a landmark 12 storeys, unusual for Brussels. Leopold Village’s location is very central, being just four metro stops from the Eurostar terminal and Thalys.

Sales were launched off plan in June 2007 and have been strong to date. Construction is due for completion at the beginning of 2010. Prices for the apartments range from £166,000 for a studio, £204,000 for a one bedroom apartment, and up to £352,000 for a three bedroom apartment. Penthouses start from £973,000.

Brussels is a solid and dependable investment location with no dramatic price rises nor slumps and where prices are reasonable when compared to London or Paris.

The pool of potential tenants is also healthy with the EU civil service employing at least 24,500 people, the presence of the European parliament and Nato as well as multiple NGOs based here.