At the time Pylos acquired the industrial site “Eli Lilly” in 2007, the site of +10 hectares was composed of 4 production and R&D buildings. The project was in a 1st stage reconverted to a mixed use business park with the main focus on biotech companies. Within a timeframe of 2 years Pylos redeveloped the entire stock of 20.000 sq.m. with a vacancy of less than 5% in a very competitive market and challenging times. The site attracted key role players in the biotech field by focusing on the quality of the development with a long time horizon. As this 1st phase was so successful, a new building of 4.000 sq.m. was developed in 2014 and fully let to Lhoist sa for a 9 years firm term. Along with this new development, the masterplan to develop another 25.000 sq.m. on site was initiated and granted by the authorities.
Both the AAA cash flow as well as the potential future development attracted a Belgian based private investor, who identified these values as from the start. He will continue to focus on the initated goals of Pylos with respect to a sustainable and long term horizon.”
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