PingProperties sells the sustainably transformed Trappenburch in Utrecht

PingProperties has sold the Trappenburch building in Utrecht city centre, which it bought in July 2015, to Quadoro Doric. This sale marks the culmination for PingProperties of a successful transformation project, modernizing and improving the sustainability of this formerly outdated building as well as attracting two new lessees: TIAS and AOb. TIAS (School for Business and Society) has leased a total of 2,505 m² of office space and training facilities and 26 parking spaces. AOb (Algemene Onderwijsbond – General Union of Educational Personnel) has leased a total of 3,828 m² of office space and 10 parking spaces.

Energy label A
The sustainable transformation started early this year and has given Trappenburch, which was built in 1974 for the Nederlandsche Bank and later refurbished as the former office building of the Chamber of Commerce, a completely new lease of life. It is now a modern building, its sustainability has been improved from energy label G to A and it provides an excellent working climate for its lessees. The facades have been cleaned, the windows and frames replaced and a second entrance created, so that the exterior of the building now blends perfectly into its surroundings and has contributed to a major upgrade of ‘Wijk C’ (District C, the neighbourhood in which the building is located).

Sustainable property for a profitable future
Over the years PingProperties has demonstrated a keen eye for promising, profitable refurbishments. This redevelopment of Trappenburch too has shown PingProperties’ ability to transform a building into an attractive and profitable option again for lessees, purchasers and its surroundings.

About Quadoro Doric
Quadoro Doric is portfolio manager for the AIF Vescore Sustainable Real Estate Europe property funds. It invests in buildings with sustainable, added value for its clients.