Largest Dutch Primark leases prime retail space from Bouwinvest Retail Fund

Primark will be opening a more than 13,500 m² store, of which 8,800 m² retail space, at 70 Damrak, Amsterdam, making it the biggest Primark in the country. The lessor is Bouwinvest, on behalf of the Bouwinvest Retail Fund.

Top Vastgoed has concluded an agreement with Primark for the lease. Primark will be renting the space in the former C&A complex on Damrak and Nieuwendijk, which will be undergoing extensive renovations in the coming years.

“If there is one place in Amsterdam city centre suitable for big shops,” says Collin Boelhouwer, Head of Asset Management Retail at Bouwinvest, “then it’s here. It’s an A1 location, which we are keen to invest in with our Retail Fund. With approximately 420,000 people passing through Damrak and Nieuwendijk every week, 70 Damrak is located in one of the busiest shopping areas in the Netherlands. Primark’s arrival will give the area a new boost”.

a New York architect Robert Stern design

The 21,000 m² complex currently has 6,500 m² of vacant outdated office space. The office space is being taken off the market and the entire complex will be used for retail. The 1960s Beurspassage side street bisecting the building will be relocated to the north. The new passageway, which will be more than 8 m high, will be given a new look befitting a development of this scale. As such, it will remain a major connection between Damrak and Nieuwendijk.

The retail space Primark is renting is divided over nine floors. The shop will extend from the basement to the 5^thfloor, while the 6^th and 7^th floors will serve as secondary space. There will be entrances to the shop on Damrak and Nieuwendijk and in the new Beurspassage.

New York architect Robert Stern came up with the design for the building and the Beurspassage. The unique thing about the development is that the construction of the existing building is being retained. Sustainability is one of the spearheads of this project. Building will start in the spring of 2014 and is due to be completed at the end of 2015.

Nowadays

The building at 70 Damrak is part of the Nowadays project, the redevelopment of the outdated C&A complexes at 70 and 80 Damrak and 196 Nieuwendijk. Starbucks and Zara have also recently rented retail space in this project, which comprises a total of more than 27,500 m² of retail space. This makes it one of the largest city centre retail projects in the Netherlands. Bouwinvest owns the existing complexes and has commissioned the redevelopment. As the developer, Top Vastgoed is responsible for planning. FiMek Estate of Zaltbommel is taking care of the project management.

Visit the Nowadays website at www.nowadays.nl