Property Management: Greenhill Campus

Growners, a company which has been operating in the commercial property sector since 2003, specialises in the purchase of office buildings, and industrial and logistics spaces which are then partitioned into units for sale or rent. One of its major projects is ‘Greenhill Campus’ , a business park of around 20,000 m² with landscaped gardens, located on the Haasrode Research Zoning in Leuven close to the E40 motorway. Steven Sagman, COO of Growners, tells us about this strategic complex and its history, along with the working philosophy of his company. First of all, how did Greenhill Campus come into the ownership of Growners?

In 1998 the existing industrial building were demolished to make place for the construction of a research park with offices, laboratories, car parking and green areas. The Greenhill Campus now consists of nine buildings with above and underground parking spaces and also polyvalent underground archives. Growners purchased this property in the middle of 2022 and since then has been working hand in hand with regional organization Interleuven, which is charged with ensuring among others that scientific and technological activities are respected. So we are now carrying out this mission to preserve the spirit of the research campus.

Is this a one-off or a strategic move for Growners to become more active this market?

First of all, since 2003 we have been specialising in the purchase of office, industrial and logistics space. Following a first purchase of an office building twenty years ago and after a market analysis, Growners noticed there was a demand from SME’s (accounting/lawyers firms, consultancy/research companies,..) to buy their own office space in a professional building but also noticed that there was no existing offer on the professional rental market. It’s not the first time we have purchased a building in a Science park. In the past, we have already successfully applied our model to the BAROC in the Ottignies-Louvain-la-Neuve Science park, with the help of UCL for the eligibility of those companies wishing to be present there.

GREENHILL CAMPUS - LEUVEN Steven Sagman

COO of Growners

What is your preferred method of operation in carrying out your work?

Our objective is to give a second life to our buildings and adapt them to all of the needs and changes we are facing, optimizing the common spaces to increase the dynamic and exchanges between our tenants. We divide every floor of each of our buildings into small units which allows us to offer space from 100 m² to 10,000 m². Our tenant clients can choose to rent or purchase on demand. Our tenants (old or new) can also buy the office space they rent as their business grows, and if not, our investors are ready and willing to become the new landlord.

Why do SME’s want to buy this space?

Buying your own office today is a way to counteract rent indexation and build liquidity for future investments. Instead of paying rent, SME’s can pay off a loan. And in the long run SME’s can still rent out, partially sublet or sell their offices. It is also important to note that all taxes and property tax are at the expense of the tenant. If a tenant leaves, he also loses his furnishing works. One more reason to buy by investing correctly. Greenhill Campus sounds ‘green’. Are you ecologically-aware?

Yes, as the recent landlord of the Greenhill Campus, we have launched various analyses for the placement of solar panels, charging stations, optimization of energy consumption and the creation of additional multi-purpose spaces on the ground floor of every building. We will also ensure the necessary work to ‘uplift’ the buildings. The most important thing for us and it is our strength, is to see the potential of a site and of our added value.

What is CEUSTERS’ role in this project? What is their added value?

Over the last few years, CEUSTERS has become a true righthand for the management of a large part of our buildings. With their cooperation we can offer the best management services to our tenants (Property Management) and co-owners (syndic). Our in-house Asset Managers also work with CEUSTERS to provide the best service and build long-term relationships with our customers.