Befimmo acquires majority stake in coworking operator Silversquare

Befimmo has acquired a controlling stake of 61% in Silversquare, the Belgian coworking operator, for €7.1m. The deal is fully in line with the evolution of the real estate office market into a service-oriented sector. With the acquisition, Befimmo will offer different workspace solutions in a Hybrid Offices model, going from the traditional office, over the mixed office with coworking and traditional space, to the full coworking building. The users will benefit from flexibility in time (duration of their contract), workspace (easily occupy less or more space according to their needs) and meeting facility solutions. They will be able to go from one location to the other, in function of their own preferences and work schedule. Befimmo’s portfolio will become a high-density network of Hybrid Offices, aligned with the local economic tissue, and all users will be able to benefit from Silversquare’s long-term expertise in community management, networking, events and services.

By setting up its first coworking centre in 2008, Silversquare was a pioneer in Belgium and Europe. 10 years later, it manages 5 centres, covering 15,200m², has over 1,000 members (companies) and generates a turnover of about €5.3m. Today, Silversquare offers inspiring ready-to-use workspaces (including reception, furniture, food & beverage, meeting rooms, IT, copy machines, etc.). It offers flex and dedicated desks or even private office space to SME’s that can be used on a membership basis with flexible duration (1 day, 1 month, 1 year, etc.).

“I am convinced that this new “Hybrid Offices model” will contribute to the evolution of the Belgian office market by offering a different use of space for the greater benefit of a variety of users with increased flexibility in time and space. This new model is an important strategic step for Befimmo and extends its offer in line with current market needs,” said Benoit De Blieck, CEO of Befimmo.

“We are excited about this acquisition. It appears to us as a very natural evolution after an intensive and positive year of close collaboration within our partnership during which it was confirmed that we share the same vision and values,” says Martine Rorif, COO of Befimmo.

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