Vesteda acquires and transforms residential complex in Amsterdam Zuidas district
Vesteda and housing corporation Rochdale have signed a sales agreement for a residential complex on De Boelelaan in Amsterdam Buitenveldert. Transfer of title took place on Monday, March 2nd last. The complex was built in 1963 and is in a fantastic location on a pivotal point of the Zuidas, the VU University, VU University Medical Center and the city’s Buitenveldert area. The complex is just a few minutes from the NS railway station Amsterdam Zuid and is close to the Amsterdam A10 ring road, putting it a short drive away from Schiphol airport and very close the North/South metro line and the centre of Amsterdam.
The complex consists of 154 apartments and commercial real estate on the first floor and garages and storage spaces on the ground floor. Vesteda has acquired the building unlet and in a very dated condition. Vesteda plans to transform the complex over the next year, turning it into an attractive, modern residential building in the mid-rental segment. We expect completion and delivery in early 2016.
Nico Mol, director Acquisitions & Development Vesteda: “Vesteda focuses on both existing and turnkey acquisitions. The acquisition of the existing complex on de Boelelaan is a wonderful addition to our investment portfolio. The Zuidas is known for its high-end rental properties. The transformation of this new acquisition will give Vesteda a number of very attractive apartments in the mid-rental sector in this very popular part of Amsterdam. In line with Vesteda’s sustainability drive, the renovation will include investments to improve the energy label of the complex to B from G. The roughly 3,000-m2 of office space on the first floor will be upgraded to a level more suited to the Zuidas.At the same time, Vesteda will be adding commercial elements to the building – in line with the philosophy of Life, Connect, Share, Create – to make the complex more attractive to tenants. One example is the planned addition of a roof garden with large terraces, which creates extra space for recreation and a meeting place. The ground floor garages will be partially upgraded and converted into small-scale retail units that give the complex an attractive plinth level”.
For additional information, go to www.zuidapp.nl.
Vesteda is an active investor with a clear focus on the Dutch residential real estate market. Vesteda invests funds for institutional investors, including pension funds and insurers. Vesteda has total capital of approximately € 3.7 billion invested in real estate. The company’s rental portfolio stands at a total of around 23,500 homes. Vesteda’s key investment regions are the Randstad urban conurbation and the Noord Brabant province.