PATRIZIA purchases 123 rental apartments from HIG Invest Group
Strong increase in the demand for affordable and compact residential space in Breda
PATRIZIA has purchased the CityTwin development in Breda from developing investor HIG Invest Group in Vught. The development consists of two building sections with a total of 123 residential units, including 108 one-bedroom apartments and 15 studios. The residential complex consists of a total floorspace of approximately 5,300 sq. m. The two buildings, named Markendaal and Concordia, are located in the historical centre of Breda and were completed at the end of October. CityTwin was built in compliance with the highest sustainability standards, using solar panels and electric car-sharing/mobility. The basic rent is between € 600,- and € 1000,- a month.
Pieter Kamps and Helmut Hetzenauer, partners at HIG, explain: “The inner-city redevelopment has been complex, but has been more than worth it. We are very pleased with the cooperation with PATRIZIA as a leading investment partner for our distinctive micro-housing concept. This transaction allow us to use more opportunities and to continue to contribute as a developing party to the realisation of a larger housing stock mainly in the social segment and mid-price range in the major cities of the Netherlands.”
Research has shown that the estimated growth of the number of residents of Breda (13.7%) is higher than the national average (6%). The strong growth of households in Breda is mainly driven by the growth of single-person households. The current share of single-person households in Breda is approximately 44%. By 2040 we estimate that this will be 49%. This project addresses the growing demand for living space for single-person households.
In this transaction, CBRE Capital Markets advised HIG Invest Group. PATRIZIA was advised by Savills.