M&G Real Estate has acquired Frederiksplein 42, an office asset in the sought-after canal district in central Amsterdam, for €22.4m. The transaction marks the eighth deal made on behalf of the M&G European Property Fund managed by David Jackson and Simon Ellis this year.
The 2,605m² asset provides high-quality accommodation and is fully let to the Amsterdam Internet Exchange. It is highly accessible by public transport, as it benefits from a close proximity to a recently completed north-south metro line.
Simon Ellis comments: “We have been patiently awaiting the right opportunity in the Netherlands, and as the key indicators for growth in the Amsterdam office market have improved over the past year we decided the time was right to invest. Frederiksplein 42 allows us to increase our Dutch exposure with a high-quality core asset and we have further capital to allocate to the sector.”
Marc Reijnen, Head of Asset Management, Continental Europe, adds: “With a high-quality, stable tenant and secure long-term rental income, M&G Real Estate is well-placed to capture the growth in rent and capital appreciation owing to sustained demand in the market.”
M&G Real Estate was advised by AC Niellsen, while Van Gool Elburg acted for the vendor.
