PingProperties acquires unique SBM Offshore office in Schiedam

18-03-2022

On March 18, PingProperties concluded a purchase agreement on behalf of PingProperties Corporate Office Fund XIII for the single-tenant SBM Offshore office at Karel Doormanweg 66 in Schiedam. The building has a floor area of 8,875 m² over 12 floors and comes with 175 parking spaces.

Purchasing strategy
PingProperties is delighted with this addition to its portfolio. According to Sander Rovers, Investment Manager at PingProperties, the building is at an exceptional location: ‘it is directly alongside the A4 motorway, with the Vijfsluizen metro station opposite the entrance to the building, and is also situated right in the port district of Rotterdam with large seagoing vessels forming its backdrop. Such a spot where port and city meet is unique’. PingProperties therefore sees great value potential in this iconic building, at a unique location with a tenant connected to the area, so the aim is to make the building more sustainable and redevelop it as a modern building that once again meets the requirements of today and tomorrow.

Strong tenant
SBM Offshore N.V. is a listed (AEX) Dutch company incorporated in 1965, formed from the amalgamation of several Dutch shipyards. SBM Offshore has developed into an offshore specialist of Floating Production and Storing Offloading Systems (FPSOs) for oil and gas, and is listed on Euronext Amsterdam. The company has (in 2021) a fleet of 14 operational FPSOs, giving it the capacity to produce a total of around 1.7 million barrels of oil a day. In addition, SBMO supplies special components for drilling vessels and offshore lifting and hoisting systems. The company is also active in the renewable energy market. For example, SMBO supplies floating foundations for offshore wind turbines.