Union Investment Real Estate, advised by international real estate advisor,  has purchased the AKZO Nobel Headquarters development in the Zuidas (South Axis) of Amsterdam. This transaction represents Union Investment’s second office acquisition in Amsterdam in the last three weeks following the purchase of the Marina Offices in central Amsterdam at the beginning of March, also advised by Savills.

The AKZO scheme will comprise 15,216 sq m of lettable office space across 10 floors as well as 74 parking spaces. Construction has started on the development, which is due to be a certified BREEAM Excellent building, and is scheduled for completion in 2015.

Clive Pritchard, head of Savills in the Netherlands, says: "Following signs of recovery in the wider European economic climate, buyers are once again looking to acquire prime office properties in the Netherlands, particularly in Amsterdam, and preferably in central mixed-use locations.  The two purchases by Union Investment are evidence this."

The seller Dura Vermeer Vastgoed was advised by CBRE.