10 January 2018
Dutch institutional investment manager Bouwinvest’s Residential Fund has extended its total investment in the NDSM Wharf former shipyard on the IJ River waterfront in Amsterdam North to €240 million with the acquisition of 449 apartments in the ‘Het Dok’ project from developer COD. Bouwinvest’s holdings in the NDSM neighbourhood now total around 1,400 homes, following pervious partnerships with COD to invest in and develop 543 mid-sector rental and 403 student apartments.
Amsterdam North has been described by the New York Times as the “red hot” young and upcoming cultural district of the Dutch capital and NDSM with its trendy cafes, restaurant, art spaces and creative companies, is one of the area’s main drivers it its transformation from a gritty industrial past. NDSM is located along the IJ to the northwest of Amsterdam’s central railway station, to which it is connected by a frequent free ferry service.
Michiel de Bruine, Director Dutch Residential Investments, Bouwinvest said: "Bouwinvest prefers to invest in larger areas, so we can influence the successful evolution of mixed neighbourhoods that are both liveable and sustainable. Het Dok adds to our two previous projects, De Werf and Nautique Living in NDSM, providing a diverse choice of offerings to tenants -- from student and social housing, to mid-level liberalised-sector rental homes. “
The Het Dok project is a striking building with a broad substructure including three high towers, which contain 449 multi-family homes, ranging between 50 sqm and 106 sqm -- of which 314 are aimed at the liberalised rental sector. The other apartments will be leased in the social housing sector. The ground floor accommodates commercial spaces, as well as community facilities for residents.