PingProperties Corporate Office fund IV strategically expanding its position in Groningen
05-06-2014
PingProperties has reached agreement with the vendor Tasman Properties on the purchase of two office buildings on Cascadeplein in Groningen. PingProperties has owned four properties on Cascadeplein since 2011 and is now extending its ownership with two adjacent buildings. The purchase will be concluded on a full-equity basis, without financing. The transfer of the properties will take place in the third quarter of 2014.
The Cascade office complex is situated at a unique location in the centre of Groningen, immediately next to the central station. The complex is characterized by government-related lessees, which have occupied the complex since its completion in 1997-2000. The Government Buildings Agency (Rijksgebouwendienst) is the largest lessee in the complex, which it uses as a flexible, multi-tenant office building for a range of government bodies. This is also the use which the Dutch government is looking to achieve in its recently adopted Master Plans. The lease with the Government Buildings Agency is for the long term.
With the purchase of the adjacent buildings, the size of the fund has expanded by around 9,500 m² of lettable floor area, bringing the total owned by PingProperties Corporate Office fund IV to over 30,000 m² lfa. The purchase represents a strategic expansion with a clear vision for the future. PingProperties is strongly in favour of existing buildings at strategic station locations, and aims to demonstrate that this complex will give many years of pleasure to users, owners and the surrounding area.
Go backNews
10-10-2024
PingProperties to start renovating and improving sustainability of De Argonaut and Koploper in Amersfoort
PingProperties is to start renovating and improving the sustainability of the iconic office buildings of De Argonaut and Koploper, situated right next to Amersfoort Intercity Station. The complex, which was purchased early this year, is divided into 2 buildings with a total lettable floor area of 17,080 m2, together with a basement car park for 182 cars. The business plan provides for improving the complex’s sustainability, as well as modernizing the low-rise building and positioning it separately as ‘Koploper’ (www.koploper-amersfoort.nl). The plans have been finalized in recent months and work is now underway.
10-09-2024
PingProperties improves energy performance of Cascade building to A++
PingProperties has recently carried out further sustainability improvements to Building 1, comprising 4,870 m² of office space, in the Cascade complex in Groningen to make it Paris Proof. The renovation work has raised the energy label from A to A++.
02-09-2024
PingProperties reduces annual like-for-like CO2 emissions by 40% in 5 years
Last year PingProperties drew up its ESG policy, linking it to specific targets. One of these targets is to provide an insight into CO2 emissions in its portfolio.