The Bouwinvest Residential Fund has acquired 933 newly built homes and commercial space in Eleven Square in Amsterdam Southeast. This is the largest new-build transaction in the Dutch residential market, comprising 478 private-sector rental apartments in Eleven Home and 455 student studios and approximately 3,300 sq m of commercial space in Eleven Base. With this scale, Bouwinvest is taking a decisive step within an area development that plays a crucial role in the transformation of the surroundings of the Johan Cruijff ArenA.

Savills was responsible for the valuation of the subprojects Eleven Home and Eleven Base and provided an essential contribution to underpinning Bouwinvest’s investment decision. The valuation team mapped the value of the projects both accurately and in depth, taking into account the scale, multifunctional character and position within the future district of Eleven Square. Savills contributed through extensive market research, mapping all new-build developments at rental, vacant possession and investment level. Savills accelerated the process by leveraging its internal Savills Maps database and cooperating with the DIS department, which sharpened the substantiation of the market rent series.

Pim Keij, Head of Residential Valuation at Savills, comments: “This substantial transaction demonstrates the importance of independent and carefully executed valuations in a dynamic real estate investment market. We are proud to have been trusted by Bouwinvest to carry out this valuation, which has formed a substantive basis for this exceptional acquisition. With this, Bouwinvest shows that they have confidence both in Savills as a professional valuation partner and in the Dutch residential investment market.”