Schroders Capital appointed to manage iconic Covent Garden Building in Brussels

NEWS RELEASE - 12 March 2025

Schroders Capital, the $99.3 billion private markets business of Schroders1, announces today that it has been appointed to manage the Covent Garden Building, Place Rogier 16.

Schroders Capital’s appointment signifies an important step forward in revitalising the asset and transforming the building’s strategy to meet today’s evolving occupier and market requirements.

Built in 2008, Covent Garden is an impressive high-rise office building, offering c. 72,000 square metres of flexible office space majority let to the European Commission. Located in the heart of the Brussels North District, the building’s prime location is a five-minute walk from Brussels North Station and one minute from the Rogier train and bus station, providing excellent connectivity and accessibility.

Schroders Capital plans to build on the work to date, combining its proven asset management track record and industry-leading ESG expertise with its hospitality-led approach to occupier engagement and placemaking. As part of this approach, the team will undertake a refurbishment programme, helping to redefine and enhance the asset’s identity.

The acquisition further strengthens Schroders Capital’s real estate presence in key European markets, and in Belgium specifically, following the team’s recent refurbishment of the 35,000 square metres Bastion Tower. Located in the neighbouring Leopold District in Brussels, and expertly tailored to meet occupier expectations in terms of amenities and modern work environments, the landmark office building was fully leased before completion.

Schroders Capital’s real estate business is a strategically important growth area, with the team currently managing over $27.3 billion of assets in a range of strategies across 16 markets globally2. With strong entrepreneurial teams on the ground in the major real estate markets, it benefits from local networks, deep market knowledge and asset expertise.

Makoto Fukui, Fund Manager, Strategic Partnerships, Real Estate, at Schroders Capital, commented: ​
​“Covent Garden is an iconic building in Brussels, offering a unique opportunity. By combining our asset management and ESG expertise with our partnership approach, we are committed to delivering solutions to enhance its occupier experience and future performance.”
Nick Montgomery, Global Head of Real Estate, Schroders Capital, added:
​“We are delighted that our Continental European team has been mandated to manage such a high-profile asset in Brussels. This is further demonstration of our strong capabilities in delivering value add strategies across the UK and Europe, and we look forward to delivering the business plan for the Covent Garden Building.”

1 As of 31 ​ December ​ 2024 (including non-fee earning dry powder and in-house cross holdings)

2 As of 31 December 2024 (including non-fee earning dry powder and in-house cross holdings)

Media contact

Wim Heirbaut

Senior PR Consultant, Befirm

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About Schroders Capital

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Schroders Capital

Schroders Capital provides investors with access to a broad range of private market investment opportunities, portfolio building blocks and customised private market strategies. Its team focuses on delivering best-in-class, risk-adjusted returns and executing investments through a combination of direct investment capabilities and broader solutions in all private market asset classes, through comingled funds and customised private market mandates.

The team aims to achieve sustainable returns through a rigorous approach and in alignment with a culture characterised by performance, collaboration and integrity.  

With €95,9 billion* assets under management, Schroders Capital offers a diversified range of investment strategies, including real estate, private equity, secondaries, venture capital, infrastructure, securitised products and asset-based finance, private debt, insurance-linked securities and BlueOrchard (Impact Specialists). 

*Assets under management as at 31 December 2024 (including non-fee earning dry powder and in-house cross holdings)

Schroders plc

Schroders is a global investment manager which provides active asset management, wealth management and investment solutions, with €941,8 billion of assets under management at 31 December 2024. As a UK listed FTSE100 company, Schroders has a market capitalisation of circa £6 billion and over 6,000 employees across 38 locations. Established in 1804, Schroders remains true to its roots as a family-founded business. The Schroder family continues to be a significant shareholder, holding approximately 44% of the issued share capital.

Schroders' success can be attributed to its diversified business model, spanning different asset classes, client types and geographies. The company offers innovative products and solutions through four core business divisions: Public Markets, Solutions, Wealth Management, and Schroders Capital, which focuses on private markets, including private equity, renewable infrastructure investing, private debt & credit alternatives, and real estate.

Schroders aims to provide excellent investment performance to clients through active management. This means directing capital towards resilient businesses with sustainable business models, consistently with the investment goals of its clients. Schroders serves a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high net worth individuals, family offices, as well as end clients through partnerships with distributors, financial advisers, and online platforms.

Issued by Schroder Investment Management (Europe) S.A., 5, rue Höhenhof, L-1736 Senningerberg, Luxembourg. Registration No B 37.799.

Schroders is supervised by the Financial Services and Markets Authority (FSMA) in Belgium. 

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