Vesteda signs contract for 73 liberalised sector rental houses in Amsterdam
Vesteda has signed a contract for the realisation of 73 mid-rental segment houses in the New-West area of Amsterdam. Vesteda acquired the project from housing association de Alliantie. The sale is in line with de Alliantie’s ambition to involve institutional investors in large-scale restructuring projects.
The 73 homes will be realised in the Henri Dunantstraat, located in the Staalmanplein neighbourhood. De Alliantie has been working with the local district council Stadsdeel Nieuw-West, local residents and business sector since 2008 to rejuvenate the Staalmanplein neighbourhood. The rejuvenation process is being carried out in phases and will be completed in the coming years. Vesteda expects the project to be delivered in the second quarter of 2017. Huizen-based construction company Slokker Bouwgroep is responsible for the realisation.
The project includes 50 apartments with an average size of around 90m2 and 23 family houses with an average size of 115m2. All the homes will have rents in the mid-rental segment.
Nico Mol, director Acquisitions & Development at Vesteda: “We are very pleased with this project. The Staalmanplein neighbourhood is becoming an increasingly attractive area with a wide range of amenities. It offers easy access to the A10 ring road, the highway A4 and has excellent public transport links. There is great demand for mid-rental segment homes in Amsterdam and the combination of houses and apartments makes this a very attractive proposition.”
Vesteda is an 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 approx. €3.6 billion invested in real estate. The company’s rental portfolio stands at a total of around 23,000 units. Vesteda’s key investment regions are the Randstad urban conurbation and the Noord Brabant province. In 2014 Vesteda generated a net result of €136 million, with more than 200 employees.