Clarion Partners Europe, the real estate investment manager specialising in European logistics/ industrial assets and sale-leasebacks, has acquired a 10,404 sqm office building in Nootdorp, near The Hague, on behalf of one of its commingled funds.
The recently developed property is fully let on a 20-year triple-net lease to Fugro, a global market-leader in the provision of geo-data and geoscience services, and will serve as its new global office headquarters and R&D facility. The highly sustainable property, which has achieved an A+++++ EPC rating and is targeting a BREEAM Outstanding certification, will be net energy positive, with features including thermal energy storage connections, heat pumps and PV installations on the façade and roof. It also utilises an innovative rainwater collection and storage system designed by Fugro, which incorporates infiltration in deep soil layers and allows reuse of the water.
Nootdorp is strategically located 10 kilometres from The Hague’s city centre (15-min by car or train), 25km from Rotterdam (20-min by car) and 60km from Amsterdam (45-min by car). The property benefits from train and metro/subway stations in front of the entrance, and direct access to the A12 motorway, connecting The Hague and Utrecht.
Max Rooney, Director at Clarion Partners Europe commented: “This is a best-in-class asset with excellent sustainability credentials leased to a strong covenant, in a market where office vacancy levels are at a 10-year low. We continue to see corporates exploring sale-leasebacks, which is presenting a compelling opportunity for investors seeking stable, inflation-resilient income in today’s fragmented macroeconomic environment.”
Thorben Schaefer, Managing Director at Clarion Partners Europe added: “Having been one of the first movers in the European sale-leaseback sector, we have the team, as well as available firepower, to execute on our significant near-term acquisition pipeline.”
Reinier Wegman, Head of Office Investment at Savills Netherlands, said: “The acquisition of Fugro’s new headquarters demonstrates that high-quality, future-proof real estate with long-term income streams remains highly attractive to institutional investors, even in the current market. This sale-and-leaseback is a textbook example of how a modern, sustainable building and a strong occupier can reinforce one another. We are proud to have advised Clarion Partners Europe on the acquisition of an asset that ranks among the very best in terms of both sustainability and occupational quality.”
Clarion Partners Europe was advised by Savills, Loyens & Loeff, and Arcadis. Fugro was advised by JLL and CMS.