Elise BALDINI, Senior Account Manager – Occupier Markets REALCORP (RC), recently interviewed representatives of SQUARE METER: Mrs Véronique KOCH and Mr Laurent COOREMAN (SQ). SQUARE METER are the asset managers responsible for renovating the IKAROS 2.0 office complex on Rue de Neudorf which has been given new life and new ideas. Initially developed from 2002 to 2005, the complex was until 2018 known as the Ikaros Business Centre. It is currently being relaunched under the name IKAROS 2.0. The two buildings Artemis and Apollo together offer approximately 25,000 m² of office space. There are also 5,000 m² of archives and 800 indoor parking spaces. The complex consists of five upper floors and four basements. The two buildings will connect to each other at street level and will house shops, services and offices.

This interview was first published in French on this blog on 17/10/2019.

RC: Hello Mrs KOCH, Hello Mr COOREMAN. Your company, SQUARE METER has been charged with the asset management of the IKAROS 2.0 complex. Can you explain why?

SQ: This complex, composed of two buildings (Artemis and Apollo) representing respectively 10,000 and 15,000 m² and rented to two single tenants, required the implementation of a new concept in line with Luxembourg property market trends.

To this end, we developed a multi-tenant concept, emphasising the divisibility of the surfaces, the services offered on-site, and various technical improvements.

Another part of our mission was to anticipate and manage the departure of the two main occupants: Deloitte, which has since taken possession of its new headquarters at La Cloche d’Or, and Nordea Bank, which has partially moved back.

RC: Have any spaces already been let?

SQ: One of our priorities for the successful implementation of IKAROS 2.0 was to install services in these two buildings. Thus, the Nascht childcare facility is being set up, the Chez l’Ancien brasserie opened its doors in mid-September, and a sandwich shop will start its activities by the end of the year. These services are also accessible to external visitors. In addition, some office companies have already signed their lease agreements and are also planning their moves.

RC: What do you think are the positive points of this complex?

SQ: Honestly, there are so many. We are fortunate to be able to offer spaces ranging from 250 to more than 15,000 m². These buildings have a City of Luxembourg address with a competitive rent of 25€/m². Especially as the surfaces are easily modular and most are already fully equipped and ready for use.

Due to its proximity to the motorway, the German border, the Airport, Kirchberg, and to France/Belgium via the Sandweiler exit, accessibility to IKAROS 2.0 is very easy and convenient. The parking ratio of 1:31 m² is again unbeatable. Finally, the site is served by six bus lines with bus stops on its doorstep.

RC: Do you think there are any negative points?

SQ: In accepting this assignment, we thought long and hard about what could “hinder” the marketing. We, therefore, put ourselves in the shoes of future tenants. As a result, to avoid having two separate blocks, a central staircase connecting Artemis and Apollo will enable easy and fluid access to the various retail services from either building. A common area with meeting rooms will be set up and usable by all.

Finally, the exterior facades will be refreshed once all occupants have moved into their premises.

RC: Will other services be added to the existing offer?

SQ: Yes, absolutely, we are studying different options. For example, we would like to set up a fitness centre. And why not a food retail area, an insurance company or a bank? Our idea is to provide our tenants with as many on-site services as we can.

RC: Who helps you market these spaces?

SQ: We have recruited several local agencies, including yours, RealCorp. You know the buildings well because you have already signed several leases here, and we thank you for that. You were able to be of great support to the prospective tenants throughout their process: you guided them all the way through the negotiations, right up to the signing of the lease.

RC: Do you work with any other service providers?

SQ: Yes, of course. For example, TDO is in charge of building management. Thus, when we have prospective tenants, we can help them to project themselves into the spaces. We help them design capacities and space planning that are personalised according to their needs. The idea is to work hand-in-hand with the real estate agent to match and exceed the prospective tenants’ requests.

RC: Thank you very much for your time and trust.

SQ: Thank you for this interview, for this great collaboration, and your future visits.

Does IKAROS 2.0 interest you?

Read more about IKAROS 2.0 on our dedicated page IKAROS 2.0 Luxembourg.

You can also   Request a Prospectus   or contact RealCorp for more information on  +352 26 27 29.