Case Studies


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In view of the annual assessment of its portfolio, a report is made for a client showing a qualitative and quantitative assessment of the evolution of the portfolio.

The buildings are scattered across the country.

dC&P handled the entire follow-up of information flows from the managers of the properties to the processing in various reporting models in particular modelling adapted to the specific ownership structures.

Case Study 2

In the context of the strategic management of properties, a market situation was worked out according to a scaled model of standards-REN (Real Estate Norm) coupled with a custom market research and decisions relating to the marketing possibilities.

In the context of the acquisition of such a property by an insurance company, a complete due diligence exercise was performed. Related properties were examined for possible alternative investment opportunities to obtain a proper price balance.

Needless to say, a thorough market survey had previously been conducted.

Case Study 3

The objective of a study for the head of a government-related body in Brussels was the location study on a current housing position and to weigh it against technical and organizational aspects to other housing possibilities.

The result was the enrichment of a decision instrument, based on available facts, in order to make a rational and responsible choice between housing or rehousing.


Case Study 1

The Port of Brussels and various concessionaires had to consider the decision of the Brussels Capital Region concerning the implantation of a city park (with swimming pool) in the so-called Beco Basin.

dC&P achieved an entire report from the on site surveys via customer market research to the processing of decisions in a tailored report.

Case Study 2

A public utility service entrusted de Crombrugghe & Partners to define the market value of an industrial site constructed and operated as a concrete plant and storage location of construction materials.

In addition, redevelopment options were explored and tested on their feasibility.

The entire site had an area of more than 30,000 m².

Case Study 3

An operator put up for sale a large industrial site. In this case pollution issues had to be taken into account, next to the market analysis, drainage problems with related deadlines as well as the cost of demolition of existing underground and surface infrastructures.

dC&P worked out the full report, including advice on the feasibility of redevelopment potential or parcelling.


Case Study 1

A foreign investor wished to proceed with the purchase of a major logistics project in a port site under concession.

A complex ownership structure with various options required thorough examination of the contractual documents and knowledge of the marginal tax data, to be able to take the correct decision.

Case Study 2

dC&P supported its client in the establishment of a Real Estate Investment Trust with primarily logistic buildings, and acted as an independent expert/appraiser in connection with this investment trust.

The contract included the valuation of the properties to be acquired, the valuation of property created by the issuance of shares by the trust,  the inclusion in the listing when they purchased other than stock purchases, and the updating of the valuation of the properties in line with market evolution.

Case Study 3

In the context of a particular investment project, the tenant/end user requested in its function of the duration and the specific options, to calculate the market-based competitive rental value that wouldn’t affect the value of the underlying property.


Case Study 1

An shopping outlet /factory centre that had a special permit to continuously sell previous collections at sale prices represented a particular type of property.

There are only 3 in Belgium. In addition, this type of real estate relied on rent turnover that required a special understanding of the operational context.
The office conducted each annual revaluation.

Case Study 2

A financial report relating to a project for a provincial shopping centre had to be carefully worked out for a foreign bank.

Also in this study, rent turnover and expansion potential were decisive.

Case Study 3

The assessment of a large and complicated shopping centre were the rental values were measured in relation to the concerned floor, the concerned zoning (Itza rents) and the segmentation within the entire complex, according to the socio-economic permit.


Case Study 1
The financing by a foreign bank required a thorough review of all aspects of a listed property with a hotel as well as a thought out value opinion.
Case Study 2

Again the financing by a foreign bank, required an investigation of four leisure parks was sought from dC&P. The properties were scattered across Belgium.

This led to a thorough market research of this type of real estate, at home and abroad, with the property market in mind.

The calculation was based on an in-depth analysis of the history of the income statement projections of EBITDA to reach a considered decision.

Case Study 3

Bearing in mind the valuations made previously by specialised international groups and available data in respect of business prospects and financial data regarding the return on equity in overall business appreciation, dC&P was asked to present as interim information for shareholders and equity providers, an analysis based on an updated WACC calculation of a 4****, 200 bedroom hotel with ancillary restaurant, bar, conference and leisure facilities.


Case Study 1

A major developer with projects dispersed nationally, sought a market-based valuation that determined the origin of the pricing of the shares.

The calculation was achieved by considering the progress of planning files, the specific characteristics of concerned options, the progress of various works and the progress of the commercial side.

Case Study 2

A developer in Brussels sought thorough market research in support of pricing, with a view to commercializing its inner city residential complex.

This also involved the verification of the qualitative properties of various competing bodies to the proposed project.

Case Study 3

In connection with the issuing of a residential real estate investment trust, dC&P was appointed as independent valuer.

Each quarter the portfolio is completely re-evaluated. dC&P also acted as the valuer for new properties joining the portfolio.