Warburgh-HIH Invest Real Estate GmbH acquired two new-built-office properties in Amsterdam, the Netherlands, on behalf of an individual mandate. The purchase price was close to €20m and sold by property developers All-In Real Estate B.V. and The Pavilion B.V..
The ‘Handel ’asset provides more than 2,200 m² of office space and is spread across three floors. Completed in 2014, the property is let to seven tenants – among them the management consultancy Oliver Wyman and Patrizia Netherlands, as well as Coffeemania, a combination coffee shop/ lunch restaurant. The building comes with 20 underground parking spots.
The ‘Pavilion’ is currently under construction and is expected to be completed in June 2016. The property’s office space is approximately 1,600 m², providing space for up to 120 workplaces and includes 14 car parking spots. It is fully let to Makerstreet B.V., and an agency specialising in marketing and product development.
The two new office schemes are located in Amsterdam Zuid, on Frederik Roeskestraat, with excellent connections and access to public transportation. Amsterdam Zuid is the top office location in the Netherlands, with plans to develop residential units in addition to further offices in the coming years. Both properties feature an attractive, modern design and a high building quality. The small size of the buildings represents a unique selling proposition because there are virtually no properties like this in Amsterdam Zuid.
“Core office properties such as ‘Handel’ and ‘The Pavilion’ in the Netherlands' leading cities are keenly sought by institutional investors, and therefore represent an excellent investment opportunity for us. Given the high quality of the modern buildings and their locations the letting and re-letting options are as good as they could be while the risk-return profile is balanced,” said Andreas Schultz, managing director of Warburg-HIH Invest and in charge of the Transaction Management International division.
