The former workshop complex of the Holland America Line in Rotterdam has changed hands, with vendor APF International selling the mixed-use building, known as Las Palmas, to investment group Buysse & Partners.
Financial details were not disclosed, but documents filed with the Dutch land registry reveal a transaction price of €51.7 mln.
APF sold the 19,700 m² building, which dates from 1953 and was fully renovated in 2007, on behalf of an institutional investment fund, believed to be a Union Investment Real Estate vehicle.
Comprising seven storeys, Las Palmas houses, amongst others, the Dutch Photo Museum, a photography school, several office tenants and a restaurant and café.
The building has BREAAM Very Good certification and an A++ energy performance label.
The acquisition marks the second deal in the Netherlands for Buysse & Partners, after acquiring the ‘silver tower’ office building in The Hague in 2020.
APF International was advised on the transaction by Hemwood and Colliers. Buysse & Partners was represented by JLL, Houthoff and Laurius.
The original Las Palmas building was designed by architect bureau Van den Broek en Bakema and served as workshop and storage space for the Holland America Line (HAL), a shipping and passenger line founded in 1873 which operated primarily between the Netherlands and North America. HAL operated as a Dutch company until 1989 when it was taken over by US cruise line Carnival Corporation.
