Holland Immo Group buys residential development Vredeoord VS in Eindhoven from EQUILIS
Holland Immo Group has purchased the residential development at Naaldhout 47 / Grenenhout 8 in Eindhoven from developer Equilis Nederland. The project is a transformation of the former VS building at Vredeoord 105, once used by electronics giant Philips. The residential complex will house 166 one-bedroom and two-bedroom apartments with 212 private parking spaces beneath the property.
The building offers total floor space of approximately 11,000 sq. m. across four sections, each with four or five floors. The efficiently laid-out apartments vary in size from 37 sq. m. to 93 sq. m. and feature generous windows, an outdoor space in the form of a balcony or garden, private underground parking and a communal courtyard garden.
The building is located in northwest Eindhoven, on the border between residential areas Groenewoud and Vredeoord. It’s only a five-minute cycle to the redevelopment hubs Strijp-R, S and T, while Eindhoven city centre is a mere ten-minute bike ride away. The former Vredeoord office complex, with the distinctive Philips HQ as its landmark building, is currently undergoing a major transformation. Vredeoord VS represents a major contribution to the area’s new status as a sustainable residential area.
Their location and design make these homes ideal for a variety of target groups from starters and young professionals to one or two-income households and seniors. The complex therefore fits in well with the growing demand for mid-rent housing.
Lucas Francken, Associate Director Residential Investments at CBRE shares his enthusiasm for the project: “The transformation addresses the ongoing shortage of mid-rent housing in Eindhoven, enabling an empty office building to be put to intensive and sustainable use. It exemplifies the current phase of the housing market and provides an attractive and appropriate response to the continuing demand for well-developed new-build homes.”
Francine Zijlstra and Dimitry Melchiors, Directors at Equilis Nederland are delighted with their investment. “We are very happy and proud to have facilitated a sustainable urban housing transformation at this dynamic location in Eindhoven.In line with our European strategy, we are creating a new place in the city where people can build the happy stories of their lives.”
Equilis Nederland is part of the European developer EQUILIS, founded in 2006 by Carl Mestdagh, which now has retail, residential and mixed-use projects in various stages of development and redevelopment across seven countries. For more information, go to www.equilis.net.
Manfred Kühl, CEO of Holland Immo Group, explains the thinking behind the company’s purchase: “The acquisition of Vredeoord VS chimes perfectly with our strategy to invest in new-build homes and transformations as a forward-funding partner who makes an early commitment and works together with the builder. This residential transformation has been purchased on behalf of one of our investment funds. In this case we have joined forces with Ten Brinke Zuid, the new branch of the Ten Brinke Group in Helmond, developer, financier and builder of several projects in Eindhoven, including De Gebroeders and Meerrijk. For over ten years, we have enjoyed an excellent partnership with Ten Brinke Group in Varsseveld, first in Germany with our daily-shop retail centres and then in the Netherlands with car parks, residential developments and senior living/senior care projects. We are very proud to have acquired this high-profile residential development in Eindhoven.”
In this transaction, the residential team of CBRE and Lexence acted as advisors to vendor Equilis. Development management support for Equilis was provided by Paul Vismans Projecten Beheer B.V. and Cedrus Vastgoed B.V.