03 April 2017

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The Bouwinvest Residential Fund has signed an agreement with developer Stevast Baas & Groen for the purchase of an apartment building comprising 74 housing units and 85 parking spaces in the new neighbourhood named Kop van West in the town of Purmerend, 20 km north of Amsterdam. The apartments are intended for the liberalised rental market.

Kop van West is an area development of approximately 600 housing units located directly west of the centre of Purmerend and within walking distance of amenities such as restaurants and shops. The area borders the waters of the Noordhollandsch Canal, to the east of which lies the historic city centre.

The housing units purchased by Bouwinvest vary between 60 and 100 sqm. They are suited for both seniors and starters. What the tenants will have in common is the desire to live nearby the centre, in the proximity of amenities and with good access to the Amsterdam region by car and public transport.

Arco Smit, director and owner of Stevast Baas & Groen said: “Building liberalised rental housing in this area creates value for the larger area development of Kop van West, making it attractive for a large and diverse target group of tenants.”

Michiel de Bruine, Head of Asset Management Residential at Bouwinvest said: “At this moment there is a limited housing offer in the liberalised rental sector in Purmerend. In combination with the variety of housing units built and its central location, this makes for an excellent addition to our portfolio.”

ABC Capital acted as advisor for Stevast Baas & Groen in the sales process. Director of New Builds Glenn Eduard at ABC Capital said: “In towns near larger cities we see an increasing interest from investors for well-structured new build propositions.”

Completion of the complex is expected summer 2019.