PingProperties acquires De Argonaut office building at Amersfoort intercity railway station

08-02-2024

PingProperties has recently acquired, on behalf of PingProperties Intercity I C.V., De Argonaut office building in Amersfoort. This office building with its iconic design is right next to Amersfoort intercity railway station and only ten minutes from the A1 and A28 motorways.

The building is divided across two sections with a lettable floor area of 17,080 m2 and has its own basement car park with space for 182 cars. The four main tenants are Huis voor de Gezondheid, Het Waterschapshuis, STOWA and NS Vastgoed. With a high occupancy rate of 80%, comprising mainly long-term leases with government and semi-government bodies, this purchase provides a stable and reliable financial basis.

Purchasing strategy
PingProperties sees greater potential in the complex and will therefore optimize it by improving its functionality, aesthetics, sustainability and technological facilities. This will be done in line with Ping Properties’ ESG policy. The business plan is divided into four different components covering the low-rise office section, the retail ground floor, the high-rise office section and the parking facility.

For each component we have developed a specific strategy and proposition with added value, tailored to the unique characteristics and needs of each part of the building. The low-rise building, for example, has energy label A and BREEAM In-Use certificate Very Good. In itself this is at a comfortable level. We do see, however, that users’ requirements are becoming ever higher in this respect and so we want to achieve energy label A+++ in order to fill the vacant spaces.

Sander Rovers (Investment Manager – PingProperties): ‘These kinds of good-quality offices with a strategic location right next to large intercity railway stations are the future in the Netherlands. The demand from national and international businesses for these offices will remain as long as current and future requirements regarding ESG (including sustainability), accessibility (public transport and car) and general quality (systems and appearance) are met. By making targeted investments we are repositioning this building during the coming period to become the market leader in the Amersfoort station district for sustainability, a modern appearance, brand identity and accessibility. Our plan will make the building outperform the market with energy label A+++, BREEAM In-Use certificate ‘Very Good’ and full compliance with Paris Proof 2050 requirements. We will offer all this without the complex being more expensive than the other buildings in the district.’

PingProperties was advised in this purchase by CBRE (commercial), Loyens & Loeff (legal), Hielkema (legal) and RechtStaete (tax). JLL acted as the selling agent.