Revive transforms former EU office into sustainable urban development in Auderghem

Ghent, 23 September 2026 – Re-Store, a fund managed by Revive Fund Management (RFM), has acquired Beaulieu Investment SA, owner of the site at Avenue de Beaulieu 1-3 in Auderghem from AG Real Estate.

The approximately 12,000 m² office building, including 135 underground parking spaces spread across three levels, will be redeveloped as part of a larger project into a predominantly residential development comprising approximately 140 residential units, complemented by supporting amenities. Based on the current plans, the project has a total investment value of approximately €63 million.

The project forms part of a broader redevelopment of the surrounding area. Property developer Atenor is also involved: the developer owns the neighbouring buildings at 5- Avenue de Beaulieu 7 and 9-11. The two sites will be coordinated to create a cohesive residential development within the municipality of Auderghem over time.

From outdated office building to future-proof residential development

The redevelopment is fully aligned with the mission of the Re-Store fund: transforming outdated and inefficient office buildings into affordable, energy-efficient homes. The first units are expected to be completed in 2030. The new development will combine affordable apartments for middle-income households with a strong focus on ecology, biodiversity and circular construction, complemented by meeting spaces and amenities that strengthen social cohesion in the neighbourhood.

Sustainability at the heart of the project

As with all Re-Store investments, sustainability is at the core of the project. Revive, drawing on many years of experience in the redevelopment of underutilised urban sites, is responsible for the development of the project.

The ambitions for the site are high. The project aims to achieve Net Zero Energy: homes that are carbon-neutral in operation, delivered through Near Zero Energy Buildings (NZEB) with an energy demand more than 10% below the regulatory standard.

The project will also prioritise the maximum reuse of existing structures, including the car park and potentially parts of the above-ground buildings. This circular approach will significantly reduce embodied carbon. In addition, green and social interventions will be integrated into the project, with measures to enhance biodiversity and community-oriented amenities designed to improve the quality of life for both residents and the wider neighbourhood.

Strategic partnership

The redevelopment is being carried out through the Re-Store fund, an SFDR Article 9 impact fund established by Revive Fund Management together with PATRIZIA Global Partners. The fund has PATRIZIA Sustainable Communities I as its anchor investor and has an equity capital base of €75 million. It focuses on repurposing outdated office space across the Benelux into affordable, sustainable residential developments.