AEW acquires 2,142 sq m central Amsterdam office asset

AEW, in an off-market transaction, has acquired De Ruijterkade 139 in Amsterdam city centre. The asset was purchased from Dutch property company Midvast on behalf of a German separate account.

Located in a prime position adjacent to Amsterdam Central Station, the asset was built in 1915 as the harbour office for Amsterdam’s IJ harbour and retains many period features. It comprises 2,142 sq m of total lettable space, spread over four floors and a basement, and AEW will undertake a full refurbishment over 12 months to transform the asset, which is currently vacant, into unique Grade A office space.
The demand for office space in Amsterdam has grown significantly over recent years leading to a shortage of available high quality space in the Dutch capital, where vacancy rates are at a record low of 2.2 per cent.
Frédérique Weber, Country Manager for The Netherlands at AEW, says: “We are very excited with this off-market opportunity brought to us by CityState. This is a prime acquisition in a strong micro-location at a time when rising demand is being met by dwindling supply, which in turn is driving rental growth. We will turn this asset into a unique and high quality property meeting tenants’ demands that will deliver attractive and sustainable income, as well as capital growth, on behalf of our client.”
AEW was advised by CityState, Savills Building and Project Consultancy and Loyens & Loeff, and the vendor by JLL and Labré.

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