Cromwell European REIT invests €128m in Dutch office market
Singapore-listed Cromwell European Real Estate Investment Trust (CEREIT) has acquired two office properties in the Netherlands for €127.6m.
Moeder Teresalaan 100-200 is located in the city centre of Utrecht, close to the central business district and two tram stops from Utrecht Central station.
It has a lettable floor area of 21,922sqm and is currently 86% let to a single occupier.
Willemsplein 2 contains predominantly office space and is located in the Paleiskwartier central business district of Den Bosch.
The building has 31,979sqm of lettable space and is currently 98% let to three occupiers.
Wouter Zwetsloot, head of Benelux at Cromwell Property Group in Europe, said: “These are both good quality, well-located assets with excellent rental income upside, positioning CEREIT for long-term sustainable growth.”