Savills has successfully closed the sale of De Rotterdam, the largest single asset deal in the Netherlands. The buyer consists of a consortium of Korean Investors led by AMUNDI Real Estate.

The iconic building designed by the world renowned architect Rem Koolhaas (OMA Architects) comprises of 160,000 sq m and includes offices, hotel, apartments* and parking. The office property is leased to the City Council of Rotterdam (OBR) on a long lease which accounts for approximately 40% of the income. The hotel is leased to NHow Hotel and the parking to Q-Park, the remaining office space is multi let.

The seller of the asset, Rabo Vastgoed Groep, timed the sale of the asset to coincide with the recovery of the investment market and the success of leasing out the offices.

The property is located on the thriving Wilhelmina Pier next to the River Maas, which comprises of a combination of hotels, high-end residential, cinema theatre, restaurants and a passenger terminal.

Clive Pritchard, Head of Country for Savills in Amsterdam, who led the sale, commented:

“Timing for the sale could not have been better with high investor demand and availability of financing. The worldwide marketing campaign attracted a high level of interest from the investment community who were attracted to the iconic design of Rem Koolhaas (OMA Architects), the stable long term income, and Rotterdam which is well known for its thriving community and world port. The buyers being a combination of French and Korean investors show that the Netherlands is a serious player in the European Property Markets.”

*The apartments have previously been bought by Amvest and excluded from this transaction.