A decisive development milestone is taking place on a historic site in the City of Luxembourg. Paul Wurth Real Estate has announced the signing of a purchase agreement with a consortium consisting of Baltisse Real Estate and BPI Real Estate Luxembourg. The transaction covers the company's former industrial premises between Rue de Hollerich and Rue Wenceslas Ier, which previously accommodated the production facilities of Paul Wurth.
The planning framework for the scheme was established incrementally. Following approval of the specific development plan in 2023, the corresponding implementation agreement was adopted in 2025. Based on this, the acquiring consortium plans to develop a mixed-use urban quarter with an above-ground area of approximately 34,600 square metres. The scheme encompasses a combination of office space, residential units, and retail areas.
Urban integration and infrastructure
The site is situated at the junction of the Gare and Hollerich districts, which are currently undergoing fundamental structural transformation. Following the demolition of the former industrial halls in 2020, the plot will serve as an urban link between the central railway station, the Cité de la sécurité sociale, and the planned Nei Hollerich quarter. Accessibility will be further enhanced by upcoming local infrastructure upgrades as well as the proposed extension of the tram line to Route d'Esch.
- —Above-ground gross floor area: approximately 34,600 square metres
- —Intended uses: residential, office, and retail
- —Location: connection between the station district and the future Nei Hollerich quarter
- —Planning status: approved development plan from 2023 and implementation agreement from 2025
Gilles Feider, Chief Executive Officer of Paul Wurth Real Estate, highlighted the importance of the scheme for urban change on the occasion of the contract signing, noting that the project represents the starting point for the transformation of the entire district from its eastern edge. Alex van Ravels, CEO Real Estate at Baltisse Real Estate, emphasised the ongoing confidence in the Luxembourg property market and the advantages of the location at a major transport hub. Sébastien Labis, Country Director at BPI Real Estate Luxembourg, stated that the partnership aims to deliver a sustainable development that offers tailored solutions to current market requirements.
Transaction advisory
During the disposal, the vendor was advised exclusively by property consultancy BNP Paribas Real Estate. Legal counsel for Paul Wurth Real Estate was provided by the law firm Dentons. The buyer consortium comprising Baltisse Real Estate and BPI Real Estate Luxembourg was represented by the law firm Loyens & Loeff.
