Investment opportunity Etmofina SA  

TOTAL Group announces the divestment of 100% of the shares of Etmofina SA, a wholly-owned affiliate founded in 1928 and owning the Group’s Belgian headquarters located in the European district in Brussels as well as leisure facilities in Tervuren. BelSquare and Deloitte have been appointed as exclusive advisors for this transaction and hereby present you with a unique investment opportunity.

Etmofina main assets

TOTAL Group’s Belgian headquarters - Rue de la Loi 

This headquarters is formed through a series of connected office buildings which together represent a gross building area close to 33,390 sqm on a land plot of 5,602 sqm. The property is situated at a prime location in the heart of the Leopold district, positioned in between Rue de l’Industrie, Rue de la Loi and Rue du Commerce.

The property has been continuously occupied and maintained by TOTAL Group and is part of a strategically located building block with a major development potential. The preliminary version of the local development plan named “PAD Loi” foresees sizable expansion possibilities (max. height of 100 meters) in comparison to current volumes.

TOTAL Group commits to honor the ongoing lease contracts between its subsidiaries and Etmofina. Within this scope, TOTAL Group will remain in the buildings for 2 years after the transaction to allow for a smooth transition process, given that TOTAL Group’s Belgian headquarters will remain in Brussels on a long term basis in a new location to be identified.

Leisure facilities in Tervuren

Etmofina SA also holds leisure facilities planted on a land plot of approximately 17,314 sqm in Tervuren (Wezembeek-Oppem).

This land plot is situated in a residential park zone as per the regional development plans, which would allow for future residential use.

Adjacent asset Rue Guimard 14

TOTAL Group will also be selling a neoclassical town house. The building, fully integrated within the Belgian headquarters described above, is located at Rue Guimard 14, close to Square Frère Orban, and dates back to the beginning of the 20th century which is illustrated by its unique architecture and its listed façade. The land area amounts to 593 sqm.


Property information Rue Guimard 14

Further information

If you are interested to receive more information, please return us a signed version of the enclosed Confidentiality Agreement and we will send you a link to the data room and Investment Memorandum. This data room will contain all necessary information regarding the property, the visit, the lease back options and the process of the transaction.

In case of questions, feel free to contact us.


Total in Belgium

The Total Group has been present for 100 years in Belgium and employs more than 4,900 persons. The Group has a long experience within Refining & Chemicals and Marketing & Services in the country and is more recently active in the supply of gas and electricity.


A personal approach is guaranteed at BelSquare. We look beyond the project and put the relationship at the centre of our concerns. Based on mutual trust, we seek to give the best advice to landlords, tenants, investors and developers. It's our daily goal.

At BelSquare we know the Belgian real estate markets inside-out; whether it relates to offices, industrial, retail, residential, healthcare or leisure & hospitality property, our team will deliver accurate and valuable advice.

Amongst its clients BelSquare counts investors, developers, corporations, public organizations and financial institutions both national and international.

Deloitte Real Estate

Deloitte Real Estate offers the full range of Real Estate related Consulting and Corporate Finance services.

Our service lines encompass real estate strategy, transactions, financing and structuring (debt, equity, alternative, fund structures, JVs), development advisory, portfolio strategy & optimization, corporate real estate and valuation.

Our multi-disciplinary team is integrated in the broader Deloitte, hence offering our client a one-stop-shop approach including whenever required the tax and legal capabilities of our firm.

Our clients include professional investors, public and private owners and occupiers, developers and construction contractors across all asset classes.

Total Group + BelSquare + Deloitte
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