Luxembourg’s office investment market has delivered a powerful signal to institutional capital with the sale of Stairs S.a r.l. to State Street Services Luxembourg. The building, located in the Cloche d’Or district, is the first in Luxembourg to achieve a BREEAM Outstanding certification.
The deal, completed by Grossfeld, a joint venture between Nextensa and Promobe, marks the company’s second transaction of the year to clear the €100m threshold.
Sustainability Benchmark
Stairs has quietly rewritten the country’s sustainability benchmark, achieving not only a BREEAM Outstanding certification but also WELL Gold status for occupant wellbeing and an A+ energy rating.
The building’s construction approach is built around recyclable materials and a green roof, offering capacity for up to 975 workstations and 52 underground parking spaces.
The transaction carries a signal that goes beyond this single asset, indicating that ESG-certified buildings with WELL and BREEAM Outstanding credentials are increasingly emerging as the assets least exposed to obsolescence risk.
Investment Case
The Cloche d’Or district, where Stairs is located, holds a DGNB Platinum certification from the German Sustainable Building Council, and its expanding footprint continues to strengthen the investment case for the wider neighbourhood.
The district’s mixed-use development and direct tram access, combined with its energy efficiency, make it an attractive location for investors and developers.
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With this closing, Grossfeld reinforces its position as one of the most active and credible players shaping Luxembourg’s office setting, proving that ambitious sustainability targets and landmark-scale transactions can reinforce one another.
Market Implications
The transaction suggests confidence that prime, certified office space in Luxembourg is not just holding value, it is commanding it, and Stairs may become a reference point for how that premium gets priced in Luxembourg specifically.
As financing costs continue to filter into underwriting decisions across Europe, ESG-certified buildings are likely to attract institutional capital willing to pay a premium for future-proofed compliance.
In the context of Luxembourg’s office market, this deal highlights the importance of sustainability and certification in attracting investors and driving growth.
The fact that State Street Services Luxembourg is willing to commit to a newly delivered asset at this scale suggests that the market is recognizing the value of certified office space.
For more information on BREEAM certification, visit the BREEAM website.
The Cloche d’Or district’s New Urban Living model, which combines energy efficiency with mixed-use development, has been shaping the area over more than two decades.
