Direct Wonen signs new build property sales contract with Volker Wessels (NL)

Direct Wonen (AIM, DIWO) a leading residential property lettings agent in The Netherlands also active in new build property sales and as a financial services intermediary, today announces that it has signed a significant contract with Volker Wessels Vastgoed B.V. (V.W.V.), part of Royal Volker Wessels Stevin, a leading Dutch construction and real estate development company.

This contract is for sales of a residential development in the city of Tilburg, The Netherlands, comprising 317 units, of which 180 will be apartments (with 180 parking spaces) and 137 will be family houses on the HaVeP-site along the Southern City Ring, opposite the Willem II soccer stadium.

The estimated total sales value of the 317 units is approximately €69 million. Direct Wonen will be the sales agent for all 317 units and has guaranteed the sale of all 180 apartments and one third (45) of the family houses. The development should be completed by mid 2009 and sales will start in 2007 with pricing in the range of 170.000 and €250.000 per unit.

Richard Westerhuis, Chief Strategy Officer and responsible for Direct Wonen's real estate business, said: "We are pleased to have signed this contract with V.W.V. The housing market in the Tilburg area shows strong demand for the kind of apartments and houses that will be built on the HaVeP-site. We are confident that we will be able to sell the vast majority of the units even before they are completed.

Dietmar Werner, Managing Director Volker Wessels Vastgoed said: We are delighted to be working jointly with Direct Wonen on this prestigious project. Direct Wonen has an impressive track record in new build housing sales projects where on average they sold 75% of the units before the start of the construction phase.'

Source: Direkt Wonen

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