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The European Parliament's building strategy seeks to purchase and connect its buildings - likely driving up real-estate prices for nearby premises (Photo: Lisbeth Kirk)

EU Parliament pays close to double market price for building

At €74.9m the European Parliament may have paid close to double the market price of a building - as part of a cost-cutting exercise.

"We know that the estimated market value of the building was between €42 and €65 million but we paid €75 [million] for the acquisition," German Green MEP Daniel Freund said on Tuesday (25 January).

The Wiertz building, since renamed Scholl, is located at the European Parliament in Brussels and is mostly used by MEPs and group staff. The purchase was...

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

The European Parliament's building strategy seeks to purchase and connect its buildings - likely driving up real-estate prices for nearby premises (Photo: Lisbeth Kirk)

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Author Bio

Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.

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