AXA IM Alts secures European Parliament on 18-year usufruct contract at central Brussels office

AXA IM Alts, a global leader in alternative investments with €186 billion of assets under management^[1], has signed, on behalf of clients, an 18-year usufruct contract^[2] with the European Parliament on c. 18,400 sqm (198,000 sq ft) of office space at Monterra in the centre of Brussels. This is the first office deal signed with an EU institution in the Belgian market this year.

AXA IM Alts is currently undertaking a comprehensive refurbishment of Monterra, which includes upgrading its ESG credentials, targeting EPC A and BREEAM Outstanding accreditations. The works are due to complete in Q4 2026 and are expected to reduce operational CO₂ emissions by c.80% versus redevelopment by maintaining the scheme’s existing structure.

Additional sustainability gains will be achieved via improvements to insulation across the asset, the installation of new geothermal and solar energy infrastructure to deliver fossil fuel-free operational performance and the greening of the property’s large central courtyard and terraces.

Monterra is located in the heart of Brussels within the city’s European District, a prominent office submarket home to many of Brussels’ political, regulatory and financial institutions. The area benefits from strong local public transport connections via nearby metro stations and the Gare de Luxembourg railway station, which are just a few minutes’ walk from Monterra, as well as extensive local amenities and public spaces for employees and residents.

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1 Source: AXA IM Alts unaudited data, as of 31 December 2024
2 A usufruct is a legal right granted for a fixed period in this case accorded to a person or party that confers the temporary right to use and derive income or benefit from someone else's property.