An associate of Singapore's First Sponsor Group and Provast redevelop Boompjes 55-58, Roterdam office complex to create 344 apartments.
CBRE Global Investors acquire 258 apartments, the commercial spaces and the associated spaces in the car park. OZ Architects is responsible for the design. The remaining 86 apartments in the project will be sold to individual purchasers.
The 12,000m² office complex is undergoing a transformation to create a landmark residential tower of 344 apartments, with a 1050m² street-level commercial plinth to accommodate catering and retail premises and a 210-space car park. Construction will start in the Q1 of 2017. The project has an expected sales value of around €100m.
Anton Koomen, partner at Provast: "There's a reason why Rotterdam has been named as Europe's finest city. Of the four major cities in the Netherlands, Rotterdam alone has managed to attract predominantly native newcomers. Projects like this are a perfect fit with the growing trend towards urbanisation."
Team First Sponsor/Provast was advised on this transaction by Loyens & Loeff and CBRE. CBRE Global Investors obtained legal advice from Houthoff Buruma.
