Lingotto sells 206 apartments in Leiden to M&G Real Estate
4 december 2023
Amsterdam-based property developer Lingotto has sold new-build development More5 in Leiden to M&G Real Estate. More5 consists of 206 apartments and 178 sqm of commercial space. 184 of the apartments will be available in the affordable segment, of which 150 are intended for university employees. Capital Value assisted Lingotto on the sale.
More5 is located in the Bioscience Park and near the city centre of Leiden. Laurien van Wieringen, head of Real Estate Investment and Asset Management at M&G in the Netherlands, said: 'Over the past decade, Leiden's population has increased by almost 5%, leading to a shortage of some 10,000 homes. This project makes a small contribution to reducing the regional housing shortage.'
The apartment complex will be equipped with 240 solar panels for the CHP system and will have storage for 527 bicycles. The project is expected to be completed in the last quarter of 2025. More5 aims to achieve a GPR score of at least 7.5. Also, the projects aims to be awarded a BREEAM-in use Very Good certificate or higher one year after completion. In that case, all tenants will benefit from the awarded energy labels A, A+ and A++.