SWIP and OVG lease Vancouver Building
SWIP on behalf of its European Balanced Property Fund has leased the 12,000 sq.m Vancouver office building on the Laan op Zuid in Rotterdam.
The development was successfully completed by OVG Projectontwikkeling and has been leased to public transport company RET.
The public transport company for Rotterdam - the RET - is to move to new offices on the Laan op Zuid called the ‘Vancouver Building'. The project which completed last week has been developed by OVG on behalf of the Scottish Widows Investment Partnership European Balanced Property Fund (SWIP EBPF).
Robert Matthews, Head of International Property & Strategy at SWIP: "We are delighted to secure RET as tenant for the Vancouver Building on a long term lease so soon after successful completion of this development"
Pedro Peters, General Manager of RET: ‘We wanted to improve our new building, but not to increase our costs. We are pleased to have found a suitable new building for 550 of our office staff. The special addition is that our service centre will already be accommodated there from October 2010. The site by the metro station and the Wilhelminaplein tram stop means the building has good accessibility for all our passengers."
Coen van Oostrom, CEO of OVG Projectontwikkeling: "With this building RET has chosen a perfect location in the city. We share a fondness for Rotterdam and sustainability. ‘Vancouver' will be a new calling-card for this innovative company."
The name Vancouver was chosen because of the geographic location on the water and the character of the city. This choice is in the tradition for names at the Kop van Zuid: New York, Montevideo, Las Palmas and refers to the global character of Rotterdam's international port. The striking building has been designed by Claus and Kaan Architects and comprises 2 floors of underground parking, a ground floor and 9 stories. In total it is a development of approx. 12,000 sq.m gfa of office space with 97 underground parking spaces. The design is distinctive with a transparent 7.5 metres high columned gallery on the street side and sophisticated detailing on the white offices facade. The ground floor up to and including the fourth floor are positioned around a patio. The Vancouver location is the final piece on the Laan op Zuid and, situated on the Stieltjesbrug opposite the courthouse and the Maastoren, this building offers a fine alternative between the high-rise in the south. From a sustainability point of view, the location - with easy access to a wide range of public transport - reduces car mobility for the tenants. The building has a green roof, and thereby actively participates in the Rotterdam Green Roof Program in order to mitigate urban heat island effect, which is a process whereby highly urbanized areas with hard surfaces tend to be degrees hotter than green areas. The building's garage also provides several charging stations for the use of electric cars.
The Kop van Zuid is one of the most recently developed areas of the city. Many office complexes, thousands of homes in various styles, shops (mostly design), restaurants, schools and a theatre have now been built in this former harbour area on the South Bank of Rotterdam. The district is in fact one big open-air museum of modern architecture where trail-blazing designs are to be seen.
Loyens Loeff, Stijl lawyers & BDO gave OVG legal and fiscal advice. SWIP EBPF was legally advised by Houthoff Buruma, real estate consultant CVO Group and real estate agent Jones Lang LaSalle. The development was part-financed via SWIP EBPF's pan European senior debt facility provided by Eurohypo AG, London Branch. Jones Lang LaSalle and De Mik Bedrijfshuisvesting are both responsible for the lease of the building. Heijmans was responsible for the construction and the Rotterdam office of Jones Lang LaSalle will manage the building.