Aroundtown signed prolongation with Dutch Government for 14k sqm in central Den Bosch office property

Aroundtown completed the prolongation of a lease with the Dutch Government, a AAA rated tenant, in Den Bosch. The Dutch Government will continue to fully occupy the property, which covers 14k sqm and 99 parking spaces. Due to Aroundtown’s strong tenant relationship management, as well as its significant scale in the Dutch office market, the company is able to provide greater flexibility to tenants and streamline the letting process. As part of the prolongation, the property will receive upgrades to further enhance its energy efficiency. The building currently has an EPC label A and the works are expected to result in a further energy consumption reduction of 700k kwh/year.

The 14k sqm property on Magistratenlaan 222, 5223 MA Den Bosch is situated in central Den Bosch, adjacent to the main central train station, providing direct rail connection to Utrecht and Amsterdam as well as other surrounding cities. This connectivity is further supported by the highly developed highway system in the Netherlands. The property is located walking distance to the historic city centre. The area surrounding the property is mainly home to offices of a range of governmental institutions and corporations and includes the Palace of Justice which houses one of the country’s four Courts of Appeal.

Aroundtown SA invests in income generating quality properties that have potential for value-add in central locations mainly in Germany and the Netherlands. Avisco (controlled by Yakir Gabay) holds 10% in Aroundtown followed by Blackrock at 5%. Other shareholders include Norges, Vanguard, Allianz, BNP Paribas, Japan’s Government investment fund, Alliance-Bernstein, Dekabank, State-Street, Bank of Montreal and many other leading international investors. The main bonds and perpetual notes investors include ECB (European Central Bank), GIC (Singapore), Swiss National Bank, Union Investment, DWS (Deutsche Bank), UBS, Credit-Suiss, M&G, Pictet, Credit Agricole and many other major institutional investors.