PingProperties and Siemens Netherlands reach agreement regarding the acquisition of the Dutch headquarters of Siemens in the Beatrixkwartier The Hague

26-09-2013

For the new fund ‘PingProperties Corporate Office fund VII’ PingProperties reached unconditional agreement with Siemens Netherlands regarding the purchase of the Siemens headquarters in The Hague. Through a sale-and-leaseback construction Siemens will continue to use the office buildings long-term. The fund is characterized by a stable investment with various upsides. It offers a very healthy return and has a low risk because the objects will remain in use by Siemens for long term, the buildings have been completely renovated, the location is excellent and the tenant has an excellent credit rating. The fund consists of a select number of participants.

 

The Siemens Netherlands Headquarters
The investment covers the Dutch headquarters of Siemens, consisting of four buildings with a total size of 30,000 sqm lettable floor area and 542 parking spaces. Siemens has its Dutch headquarters in The Hague since 1879. At the current location at the Prinses Beatrixlaan Siemens is established since 1972. Recently, the municipality of The Hague has announced the objective to develop the Beatrixkwartier into a sustainable place the next few years. For the sustainability they want to use the BREEAM -NL Region sustainability label. As part of the sale the buildings will be upgraded to the most sustainable LEED GOLD label and they will be arranged by the Siemens Office Concept (the “new working”).

 

The reason for Siemens Netherlands to enter into this agreement with PingPropeties is to reduce the real estate portfolio worldwide. “It is a strategic decision to dispose real estate. We prefer to invest our money into researching new sustainable products rather then we lock it into stones,” said Chairman Ab van der Touw of Siemens Netherlands.

 

Siemens
Siemens AG is a global organization that is among the largest companies in electrical engineering and technology. The activities of Siemens focus primarily on industry, energy, infrastructure, cities and healthcare. Worldwide, there are about 360,000 Siemens employees (of which 2,500 in the Netherlands), spanning more than 190 countries. The Group’s revenue amounted to € 74 billion, of which approximately € 1 billion in the Netherlands (FY 2011-2012) and a large part of this is achieved with young products. To maintain this pace of innovation approximately € 4 billion per year is spent on research and development worldwide.

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