Kiwoom Asset Management has acquired the Queens Towers office buildings in Amsterdam, Netherlands, for €130m. The asset is a highly prominent 28,000m² office building on Amsterdam’s West Axis, a rapidly improving office location on the A10 ring road circling central Amsterdam. It is let on a WAULT exceeding nine years with the majority of the income derived from the government agency UWV. The three towers benefit from an energy efficiency rating of A.
David Peacock of DTZ Investors said: “We are delighted to announce Kiwoom Asset Management Company as our newest client through the acquisition of the landmark Queens Towers, Amsterdam. This core investment is situated in a location benefitting from excellent transport connectivity and is let off relatively low rental levels, presenting our client with excellent prospects for future growth.”
Alexander Fischbaum, Founder of AF Advisory said: “With Queens Towers, we have secured a highly desirable investment for Kiwoom Asset Management in an area with exceptional long-term prospects. This is a very attractive transaction, giving our client access to long-term government income at a strong yield, while also benefitting from highly competitive financing and future rental uplifts.”