Fortis Vastgoed buys former Marks & Spencer shop in The Hague

Redevelopment will start in 2005

Fortis Vastgoed acquired the former Marks & Spencer building on the Grote Marktstraat in The Hague for approximately EUR 26 million. Seller is Ontwikkelingsmaatschappij Spuimakrt cv., which bought the building from Marks & Spencer in September 2001. Partners in Ontwikkelingsmaatschappij Spuimarkt cv. are ING Vastgoed, Multi Vastgoed and BAM NBM Vastgoed.

The transaction enables the redevelopment of the building. Multi Vastgoed will be project manager. The characteristic building is located in the very hart of The HagueÂ's shopping center and plays a crucial role in the whole areas redevelopment. These plans comprise a large-scale redevelopment of the whole shopping area around the Grote Marktstraat.

The street will have the same atmosphere as the famos Antwerp Meir with about 20,000 m2 of shopping space, a karge cinema, about 200 apartments, 300 parking spaces and hospitality and catering amenities. The existing Haagsche Passage (also a Fortis Vastgoed investment) will be stretched towards the Grote Marktstraat. The new arcade will pass through the former Marks & Spencer building. The new arcade will closely resemble the former historic arcade from 1882. The HagueÂ's shopping area will thus experience a thorough boost and an improvement in quality. It is expected that by early 2005 this Spuimakrt project will start.

(source: Fortis Vastgoed)

Related News