AEW announces that, on an off-market basis transaction, it 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 sqm 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%.
Source : Company