March 2013

NL - Union Investment acquires AkzoNobel HQ development in Amsterdam

The Hamburg based investor Union Investment has acquired the AkzoNobel Headquarters development in Amsterdam. The CVO Group supported the investor’s team in the pre-acquisition phase with (technical) due diligence services. The over 15.000 m2 office building and related parking facilities will be built in the prestigious Zuidas development area in Amsterdam, at the Beethovenlaan. The office building will have a “BREEAM-NL Excellent” sustainability level.




The property was sold by Dura Vermeer Vastgoed. Dura Vermeer will also realise the property. The practical completion of the property is foreseen in the third quarter of 2015.


The CVO Group team will monitor the further design development as well as the construction works of the property on behalf of the investor.


AkzoNobel has signed a 15 year lease for the building; despite its - in principle - single tenant use, the development of the property prior to the acquisition was optimised for the purpose of future multi tenant use. The AkzoNobel Art Foundation will be located on the ground floor of the office building.


The property was acquired by Union Investment for the “UniImmo: Deutschland” fund that is under management of the investor.


Beside by the CVO Group the investor was assisted by Savills and Loyens&Loeff. The vendor was advised by CBRE and Lexence.


- Based on an article by PropertyNL of March 2013 -