Round Hill Capital, G&S Vastgoed, and Boelens de Gruyter have acquired a development site within the Merwede Canal Zone (“Kanaalzone”) urban renewal planning zone in Utrecht. The plot totals c. 4.5 ha (43,000 m²) and is located at 14-19 Kanaalweg, which currently compromises over 12 office buildings, known as the ‘Smart Business Park’.
This transaction reflects the expansion of Round Hill’s residential strategy in the Netherlands to include the development of residential and student accommodation assets. Over the past four years, Round Hill has successfully established its residential investment and asset management platform in the Netherlands and has consistently acquired portfolios throughout this period, with its total number of units acquired over 10,000. Round Hill has acquired and managed more than 100,000 residential units across Europe.
Paulus Jansen, City Councillor for Housing, said: “The plan is very much in line with the strategy already set out by the city council, not only in a quantitative sense – after all Merwede will provide space for thousands of new residential units – but also in a qualitative sense. The new neighbourhood will create a varied, sustainable, and attractive space for all its residents.”
Michael Bickford, founder and CEO of Round Hill Capital, commented: “Round Hill has a well-established and successful investment track record and operational expertise in residential and student housing across Europe, and this agreement to acquire the Merwede Canal Zone site further enhances our housing platform in the Netherlands. The area has significant potential, with the Utrecht City Council supporting the growth of a new neighbourhood to accommodate between 6,000 and 10,000 residential units. Round Hill remains committed to making further investments in residential and student housing developments in the Netherlands and across wider Europe, whilst also continuing to look to make more investments in residential property in line with our existing strategy.”
Maarten de Gruyter, director of Boelens de Gruyter, said: “For the Netherlands as well as Europe as a whole, this will be a new and unique type of urban neighbourhood. The city council aims to facilitate the development of a lively, green, and energy-efficient neighbourhood. After completion, vehicles will be able to park only at the edge of the neighbourhood and in special garages so that cars and other vehicles will disappear from the street. The elimination of motorised traffic and the emphasis on pedestrian traffic and bicycles will create new and promising opportunities for alternative types of transport including public transport, car sharing, and the creation of so-called mobility hubs.”
Jason Blackmore, general director of G&S Vastgoed, commented: “The residential units in the new neighbourhood will vary in terms of type, pricing, size, and architecture. The communal courtyard gardens and inspirational open public spaces will serve as meeting places for the local residents of Merwede, who will not only be able to share the use of cars but also other goods, facilities, and services. Merwede is intended to function as a testing ground for new and innovative urban environments and lifestyles, which is also why the design specifically creates opportunities for innovation in the areas of mobility, energy, health, social sustainability and the environment. The overall goal is to create a healthy, energy-neutral, and climate-proof urban neighbourhood.”
The buyer is being assisted by Arnoud Matthijssen of HMK Notarissen (Notaries).
