Delta, Redevco and SNSPF seal deal with KPN on purchase of Post Office in Rotterdam (NL)

Delta Projectontwikkeling B.V., Redevco Nederland B.V. and SNS Property Finance B.V. have signed contracts with KPN Telecom for the purchase of the Post Office at Coolsingel 42 in Rotterdam, the Netherlands.

After a lengthy period of due diligence all parties have reached agreement and the redevelopment of this historical building for Rotterdam, current volume around 28.000 m² GFA can now begin.

An ambitious mix of functions is intended for this historical building whereby high quality retail outlets and catering establishments will form the most important part of the concept. The redevelopment will therefore enable it to recover its public use for which it was formerly intended. There is also the possibility that the building will house a luxury hotel with conference facilities or offices.

The coming months will be used to further develop the concept. The expected up and running date of this unique building is 2012.

"The building is of historical importance. This means that the redevelopment must be considered and sympathetic, it must also be performed in close co-operation with several parties. The objective is to return the building to its former grandeur so that the public can once again enjoy this splendid monument," stated Coert Zachariasse, CEO Delta Development Group.

According to Bart van Rooijen, General director of Delta Projectontwikkeling in the Netherlands, "a combination of high quality retail outlets and catering facilities makes for the perfect use of the building. At this moment Rotterdam misses an area where A-brand shops are concentrated. For this sector the Post Office is an ideal place."

"Redevco will use its knowledge and experience in high quality retail development to create a top location with an international allure," stated Luuk Lantinga, Director of Redevco Nederland.

Wouter Orth and Arjen Harmens from SNS Property Finance state an important reason for participating in this risk bearing redevelopment is due the unique air that the Post Office has, its style and because of its central location in the heart of Rotterdam. The Head Post Office is one of the few historical buildings that survived the bombardment of Rotterdam. By opening this building with its beautiful historical elements to the public in the form of high quality retail outlets, the Coolsingel will reap the qualitative rewards.

The Head Post Office is one of the few historical buildings left intact following the bombing of Rotterdam in 1940. The building, designed by Architect and Royal master craftsman ('rijksbouwmeester'), G.C. Bremer, was in use in 1923. The building meanwhile has been closed to the public. KPN shall for a number of years continue to lease a limited amount of spaces within it.

Delta, SNS Property Finance and Redevco were advised by Jones Langs Lasalle in this transaction. CBRE will be liable for the rental of the retail part.

Source: Delta

Related News