Amsterdam,
14
October
2016
|
00:00
Europe/Amsterdam

WPP leases 19,000 sq m in Rivierstaete Amsterdam

Vastint Netherlands has concluded a lease with WPP, the world’s largest advertising and marketing services company, for around 19,000 sq m of office space in the Rivierstaete building in Amsterdam. This means that the formerly white building along the Amstel river, well-known for its striking design by Hugh Maaskant, is now two-thirds let. The building is being renovated and is expected to be delivered to WPP at the end of 2017 for their fit-out.

Rivierstaete is being completely renovated and transformed. The building is being given a brand-new interior and exterior, according to a design by Roberto Meyer of MVSA Architects. Glass facades will make the building transparent and light, taking full advantage of the views over the Amstel. This effect will be further enhanced by the outdoor terraces being created on various floors and the extra ninth floor on the rooftop which will increase the total floor area of the building to 30,000 m².

Rivierstaete will be a sustainable asset upon completion; Vastint aims for energy label A and a BREEAM Very Good certification. The building is expected to be delivered at the end of 2017, after which WPP, following a fit-out period, will move into Rivierstaete.

Upon its completion in 1973 Rivierstaete was particularly noteworthy because of its size; it was the largest office building in Europe at the time. Nowadays it is the location and accessibility that are particularly special; along the Amstel on the edge of the Rivierenbuurt district, close to the A10 and A2 motorways and within walking distance of Amsterdam Amstel railway station.

Vastint was assisted in this transaction by CBRE, Peak Development and Houthoff Buruma. WPP was advised by James Andrew International and DLA Piper during this transaction.

About CBRE

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers from more than 450 offices (excluding affiliates) worldwide. CBRE offers strategic advice and guidance in property sales and leasing; corporate services; property, facilities and project management; appraisal and valuation; development services; investment management; and research and consulting. Please visit our websites at www.cbre.nl and www.cbre.com.