Time Equities purchases Avérotoren in Leeuwarden
Time Equities has purchased the Avérotoren at Lange Marktstraat 26 in Leeuwarden. UWV Employee Insurance Agency has signed a long-term lease for the tower beginning in 2022, for a total of over 8,650 sq. m. of lettable floorspace spread across 17 floors and including 140 parking spaces. The building has been sold to TEI and the purchase includes the rental contract and a renovation obligation.
John Schepens, Director of Acquisitions and Asset Management at TEI in the Netherlands: “This acquisition aligns perfectly with our strategy and associated growth ambitions. We look forward to renovating this iconic building to suit the needs of UWV Employee Insurance Agency.”
Avérotoren is an iconic building that was designed by Bonnema Architecten. The building stands 77 metres tall and is the second tallest building in Leeuwarden, inextricably linked to the city’s skyline. The location next to the train station is easily accessible by car and public transport.
UWV Employee Insurance Agency will be using the entire building, and various divisions such as a new STAP unit will be housed there. During 2021, the tower will be fully renovated and made more sustainable in order to comply with UWV standards and its sustainability ambition. UWV plans to move in at the end of 2021.
CBRE was responsible for both the lease and the purchase on behalf of the former owner and has also provided technical and building advice to the vendor for the upcoming renovation.
The buyer received legal advice from Houthoff and technical advice from SGS Search.