Sale of new-build development in Rotterdam

LSI Project Investment asked us to provide guidance for the sale of a new-build development at the foot of the Erasmus bridge in Rotterdam. The project, named Willemstoren, comprises 76 new-build apartments and approximately 46 parking spaces.

Our approach

The prominent location next to the Erasmus bridge made this development location a particularly interesting investment product for the city of Rotterdam. Rotterdam has shown positive development in recent years thanks to its many initiatives in the area of property and the city has become increasingly attractive to investors. Studios as well as two and three-bedroom apartments of between 55 and 135 m² will be realised at this location. All the dwellings will have a spacious balcony and a storage space in the lowest level of the building. In addition, a parking garage will be located under the building.

We have started to clearly map out all the information available on the development. We have included demographic developments concerning the city of Rotterdam in the sales information as well as information on current market developments in the city. The increasing demand for non-regulated dwellings in Rotterdam substantiated the rent potential of the complex. We have approached an exclusive group of Dutch and international investors to take part in the sales process and handled all the discussions with potential buyers.

The result

In March 2016, LSI and Delta Lloyd Vastgoed reached agreement on the sale of this new-build development. Construction is now in full swing and the residential tower is expected to be completed in mid-2018.   Igno Schings, Property manager at Delta Lloyd, commented on the sale: "This acquisition contributes to the expansion and rejuvenation of our residential portfolio. We are very positive about the cooperation with builders and developers, which is enabling us to achieve our growth ambitions. The project is expected to optimally benefit from the strong economic developments in the Rotterdam region. We are pleased we were able to acquire this project from LSI."   The building was designed by IWT, while LSI Project Investment and Inspire Real Estate developed the building.

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