30 Nov 2016
Bouwinvest’s Dutch Residential Fund has signed a sales agreement with Giesbers Ontwikkelen en Bouwen for 48 housing units in the Het Nieuwe A project in the Malburgen-West neighbourhood of Arnhem in the east of the Netherlands.
Malburgen-West is located next to the Meinerswijk nature reserve on the southern fringe of Arnhem. The neighbourhood is undergoing a complete transformation, of which project Het Nieuwe A is one of the last developments. The old high-rise buildings have been replaced by low-rise development comprising a mix of owner-occupied housing, houses for the liberalised rental sector, as well as social housing. Public areas are being redesigned with more greenery to restore the original garden city character of the neighbourhood.
The comfortable single family homes (between 120 and 140 sqm) purchased by Bouwinvest are to be finished with high-quality fittings, encompass spacious backyards and be developed to a high standard of sustainability with an EPC score of 0.
Michiel de Bruine, Head of Asset Management Residential at Bouwinvest said:“Single family homes in the mid-range free rental sector are fairly scarce in Arnhem, and we expect this housing shortage to increase in coming years. Answering this market demand with high quality housing projects like De Nieuwe A is therefore a sustainable investment for our fund.”
The acquisition is the result of a fruitful cooperation between housing association Volkshuisvesting Arnhem and real estate broker Strijbosch Thunnissen from Arnhem. The execution of the project is in the hands of Giesbers Ontwikkelen en Bouwen in Wijchen. Completion is expected in Q4 2017.