New purpose for the National Bank
Thanks in part to a subordinated loan from PMV, the historic building of the National Bank’s subsidiary bank in Antwerp will get a new use.
The premises of the National Bank of Belgium (NBB) in Antwerp are located on the triangular building block between Frankrijklei, Bourlastraat and Mechelsesteenweg. The main entrance is located in the corner of the building and opens onto Leopoldplaats. Due to its specific and central location on the Frankrijklei, the monumental complex forms an urban landmark between the old city centre and the new districts that were built after the demolition of the Spanish fortifications. The bank building was designed by architect Hendrik Beyaert in an exuberant, eclectic architectural style and dates from 1879. It remained in use until the end of 2013 and the National Bank maintained the building in good condition and did the necessary renovations. However, because of cost savings and changing market conditions, the NBB decided to close a number of branches and centralise its services in Brussels. The last employees left Antwerp at the end of 2013. The NBB then sold the building in mid-2014 through a voluntary public sale to Group L. Meanwhile, more than half of the building was renovated and leased. In the coming years, the roof floors will also be tackled. PMV is supporting Group L in converting the annexe bank into quality offices. Meanwhile, the entire district has undergone a transformation with the arrival of a five-star hotel, several gourmet restaurants run by top Belgian chefs, the Antwerp Management School and others. For companies, it has today become an attractive working environment.
PMV’s role
PMV is providing a subordinated loan to complement the bank financing to the private partner, Group L, as part of the redevelopment of the subsidiary bank as quality offices.
The heritage project in numbers
- Investment in the implementation of the project of approximately €7 million
- Lettable area of 7,000 m² after completion of which more than 50% has already been let
Partner
Groep L is a family-owned company with more than 70 years of entrepreneurial experience in buying, renovating, redeveloping and selling real estate in Antwerp. The group has gradually positioned itself in the higher segment with a focus on real estate heritage properties. With respect for the original properties, Groep L tries to integrate new insights and techniques.
