PingProperties extends lease with Vodafone in Maastricht

On behalf of its Office Fund III, PingProperties has reached agreement with Vodafone on a long-term extension of the lease of the building at Avenue Ceramique 300 in Maastricht. This lease extension involves a total floor area of 16,000 m², making it one of the largest lease transactions to be signed in the southern Netherlands.

PingProperties is grasping the opportunity with this lease extension to invest in the building. It will be modernized with LED lighting and new air-conditioning systems to improve further the operational efficiency of the building. Once work has been completed the building will meet all the modern requirements demanded of today’s office buildings.

The property comprises two office buildings along the banks of the River Maas. These buildings are separated by the J.F. Kennedy Bridge that connects this office district with the city centre. Following extensions in 1996 and 1998 respectively, Vodafone moved some of its activities, including its Dutch call centre, into the building, establishing a tradition of close links with the Municipality of Maastricht.

PingProperties invests in sustainable redevelopment
Office Fund III has been the owner of the building since 2010. As part of these long-term agreements it will carry out further sustainability work on the building. It intends to invest in the building’s lighting plan and air-conditioning systems, following which the building will qualify for an Energy Label A.

Vodafone Nederland
Vodafone is a global telecom provider which was incorporated in England in 1985. In 1995 Vodafone, together with Nationale Nederlanden, entered the Dutch market under the name Libertel. Today Vodafone serves more than 5 million customers in the Netherlands with telephony, television and data services through a sophisticated network infrastructure. In 1997 the company set up its headquarters in Maastricht, and in 2008 the company opened a second head office in Amsterdam. More than 1500 employees work in the Maastricht office in the Customer Service, Financial and IT/Technology departments.

PingProperties brought about the extension of the lease with Vodafone independently.
Vodafone was advised by DTZ Zadelhoff (Cushman & Wakefield since last Tuesday).