The Show building, located at 60 Rue des Bruyères in Luxembourg-Howald, has just undergone a change of ownership. It was previously owned by the Sarasin Sustainable Properties--European Cities investment fund. The transaction was carried out by Catella Investment Management GMBH (CIM) with Catella Real Estate AG (CREAG) for the Munich-based fund.
The new owner would be a fund in which EY partners are involved, but EY did not wish to comment on the topic. Jaime Sarrà, senior investment manager at CIM, comments: “After a four-year holding period, the SSP Fund has managed to achieve a stable cash flow for this property since its acquisition. The fund has been able to benefit from positive capital gains, which, at a time of turbulence in the office market, is very much appreciated by investors.” In 2021, the building sold for €52m. We can therefore deduce that the new owners acquired it for more than €52m.
The building, which has been leased since 1 December 2024, will be occupied by EY teams from the third quarter of 2025, following a series of works to adapt the building to their needs. Nearly 450 employees will be able to move into the building. EY will thus join its competitors at the Cloche d’Or, alongside Deloitte and PWC, the latter of which is currently building its new campus.
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The 8,961m2 Show building was developed in 2021 by Lafayette and served for some time as the headquarters of Mediahuis in Luxembourg, before the latter moved to Hollerich in the Heintz van Landewyck building.
For this latest sale, CREAG was supported by Catella IM Benelux B.V. (CIMB) for transaction advice. Stibbe, Drees & Sommer and Deloitte advised on the legal, technical and tax aspects of this transaction.
This article was originally published in French.
