CB Richard Ellis (CBRE) has been picked as exclusive adviser for the sale of industrial firm Solvay's head quarters in the Ixelles municipality of Brussels.

The scheme, which offers roughly 40,000 m2 of space across five buildings, has been occupied by the Belgian firm for the past 100 years. Located on the Chaussée d’Ixelles, one of the most important retail highstreets in Brussels, the property is spread over 87,000 m2 of land.

The move follows Solvay's decision in early 2011 to regroup its Belgian business activities in Neder-Over-Heembeek (Brussels).

'Because of its location and size, the buildings provide for a significant redevelopment potential,' said Nicolas Orts, CEO of CB Richard Ellis Belgium & Luxembourg. 'Due to the lively residential neighbourhood with lots of retail, pubs and restaurants, the Solvay site is likely to become a mixed project with a focus on housing.'