Warburg-HIH Invest sells Haagsche Hof in The Hague

Warburg-HIH Invest Real Estate (Warburg-HIH Invest) has recently sold the Haagsche Hof office building to Corpus Sireo Real Estate (Corpus Sireo). The building at the Parkstraat 83-91 comprises a total lettable floor area of 10,976 square meters with car parking offering 298 parking spaces.

Haagsche Hof is a high quality multi-tenant office building in the bustling historic city centre of The Hague. The property was built in 1996 and consists of 6 floors and two underground parking levels. The building is leased to a number of different companies with Regus and Schlumberger being its largest tenants.

“Over the past two years various asset management activities were performed such as improving the occupancy rate and the average lease length as well as a technical upgrade of the property which increased the rent per sq.m. Opening up the large parking facility to the public in association with Parkbee also contributed to improvement of the rental income. All in all the activities have lead to a successful sales result,” says Reinoud Plantenga, Managing Director of Warburg-HIH Invest Benelux.

Manuel Böcher, Head of Transaction International at Corpus Sireo Real Estate emphasized “With this acquisition, we have achieved a significant increase in diversification of the fund in regards to location and use, as well as strengthening our strategy in relation to quality assets. This asset additionally represents a successful market entry for this fund.”

Warburg-HIH Invest was advised by CBRE (commercial and technical), NewGround Law (legal).

Corpus Sireo was advised by NL Real Estate – Knight Frank (commercial), CMS (legal) and Arcadis (technical).

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