Cromwell, Goldman Sachs Partner For A State Of The Art High Quality & Sustainable Office Building in Amsterdam Overamstel

Real estate investor and manager Cromwell Property Group (ASX:CMW) (“Cromwell”) will asset manage and oversee interests of Jacana BV for a new 24,078 square meter, office building with a parking garage, known as The Joan, in Amsterdam Overamstel. Jacana BV is a special purpose vehicle of the Goldman Sachs Merchant Banking Division (“Goldman Sachs”).

The building will be developed by Being, a new generation of developers focusing on creating highly sustainable projects. Award-winning design firm OZ have also been engaged. The construction is due to start in the third quarter of 2020 with completion expected in the second quarter of 2022.

Located in an upcoming area of Amsterdam along the A10, The Joan will be a modern eight-storey office building targeting a BREEAM Excellent certification, comprising a multifunctional and creative ground floor, on-site faclility restaurant, lots of natural light and greenery in a sustainable and healthy business environment. The adjacent green parking garage will have 246 dedicated parking places and will be equipped with bicycle parking spaces and charging points for electric cars and bicycles.

Due to its central and convenient location, The Joan will be easy to access by public transport and via the nearby A10 motorway. The area has already attracted successful companies from various industries, such as media & entertainment, fashion & design, IT & multimedia, mobility & logistics and food & hospitality.

Wouter Zwetsloot, Head of Real Estate in Europe, at Cromwell Property Group, commented:

The Joan is a superb development that will add much needed high quality and future proofed sustainable office space to the Amsterdam office market. Investors are becoming much more discerning and sustainability and wellbeing factors are a critical consideration when it comes to asset selection. The Joan is being specifically designed to meet these requirements.”

“We are excited to continue the long-standing partnership with Goldman Sachs and continue to create high quality and well managed space for our customers in the Dutch office market” he added.

Cromwell and Goldman Sachs were advised by Loyens & Loeff. Being and partner Steengoed BMA were advised by DLA Piper and CBRE. BentallGreenoak provided a senior construction facility.