According to research by Savills, investors into Amsterdam are increasingly favouring the city's mixed-use locations such as the city centre, the Zuidas (South Axis) and the core area of Amsterdam Southeast.  The international real estate advisor has already recorded six transactions in these three areas since the beginning of the year, against a total of seven transactions during the whole of 2012.

The firm notes that this trend is linked and supported by steadily improving occupier markets in these areas making them more attractive to investors. Vacancy rates in the city centre are currently at 8.3%, down from 9.4% in Q1 2012, and stand at 8.2% in the South Axis, down from 11.8% in Q1 2012. The firm highlights that this level is significantly below the average Amsterdam vacancy rate of 15.6% recorded in Q1 2013.

Jeroen Jansen, head of research at Savills in the Netherlands, says: "We have seen a rise in both small and large tenants choosing to take office space in easily accessible, mixed-use locations where there are a variety of amenities such as shops and restaurants in the surrounding area. As a result of this we have seen investors looking to take advantage of this occupier trend and are looking for opportunities to buy quality assets in Amsterdam's mixed-use pockets that will appeal to a more diverse range of tenants."

Recent examples of this increased investor activity include two purchases by Union Investment of the Marina Offices development in the city centre for €19 million and the AKZO Nobel Headquarter development in the Zuidas (South Axis). The Marina Offices asset comprises 4,760 sq m across 11 floors and is located at the newly developed IJdock close to the central train station. The AKZO scheme comprises 15,216 sqm of lettable office space across 10 floors and is due to become a BREEAM Excellent certified building. Savills advised Union Investment on both transactions.

Clive Pritchard, head of Savills in the Netherlands, comments: "For the last two years many investors have watched from the sidelines and occupiers have put off relocation decisions to see how the European economic climate would evolve and affect real estate markets. Now that there are signs of recovery, 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."