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The building was located on Rue Philippe, the most prestigious street in the city centre, which is home to the most famous retail brands, including Dior which was situated directly opposite the building in question. 

Marketed at €3m, it spanned 7,900 sq ft and comprised ground floor retail space with intertwined residential and office uses above.

Divided into 6 floors plus a basement, it had an imposing and large entrance hall with old floors, together with some charm and character.

Working with our client, we travelled to Luxembourg to survey the property. 

We produced a detailed report to help inform our client’s decision whether or not to invest in this opportunity. 

Challenges

Whilst the building would lend itself to a fantastic, prime retail opportunity, the building was in need of significant updating and adaptation to maximise the height and size of the retail space. 

In surveying the space, it also became apparent that there were complicated intertwining issues which affected not only the physical space in the building, but also ownership structure. 

What had been promoted as a freehold opportunity, was in reality 80% of a complex leasehold. 

Two conflicting parties were identified and, in our report to the client, we made clear the complicated complications around structure and ownership of the investment opportunity. 

Result

As a result of the survey and resulting report pulled together by our occupier advisory, building consultancy teams, our client was able to make an informed decision about this investment opportunity. 

Ultimately, they decided not to proceed as it proved to be too high risk, in a market that was new to them. 

However, by providing cross-border market knowledge and surveying insight, we were able to ensure that our client avoided the potential pitfalls of what could have been a risky real estate investment. 

For more information about how Vail Williams can help with your European real estate investment needs, don’t hesitate to get in touch.

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