Vesteda signs turnkey contract for third project in Schuytgraaf, Arnhem

Vesteda has signed a turnkey contract for the construction of 54 family houses in the urban expansion neighbourhood Schuytgraaf in Arnhem. VolkerWessels company Veluwezoom Verkerk Bouw from Zevenaar is responsible for the construction of the Parnassushof project and delivery is expected in the fourth quarter of 2017. Following the addition of the Parnassushof project, Vesteda will have 114 houses spread across three complexes in the Schuytgraaf neighbourhood.

The family houses were designed by 4D Architecten and developed by Vof Schuytgraaf veld 13, a consortium of VolkerWessels company KonderWessels Projecten and BPD. The houses vary in size from 111 m2 to 121 m2. All the houses are energy-efficient and fitted with solar panels.

The Schuytgraaf neighbourhood is Arnhem’s most recent expansion project, located on the southwest side of the city. Access to the neighbourhood is excellent from both the city and the motorway. The project is near Arnhem Zuid railway station and across the road from the Arnhem Zuid shopping centre, which is currently in development. The plan is adjacent to the new-build premises of the Rivers International School Arnhem, an international school for junior and senior school education.

Pieter Knauff, Director Acquisitions at Vesteda: “The Parnassushof project is an excellent addition to Vesteda’s existing residential portfolio in Arnhem. Due in part to the success of our Lunahof and Helioshof projects in the same neighbourhood, we decided to invest in a third project. Given the region, rental price range and energy label, these homes are an excellent fit with Vesteda’s portfolio.”

About Vesteda

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 more than €4 billion invested in real estate. The company’s rental portfolio stands at a total of around 22,600 units. Vesteda’s key investment regions are the Randstad and the Brabantine City Row. In 2015, Vesteda generated a net result of €316 million, with approx. 200 employees.