Multi Vastgoed sells Stadsplein to Corio

Dutch property developer Multi Vastgoed has signed an agreement with Corio for the sale of the Stadsplein project in the centre of Spijkenisse in the southwest of Rotterdam. The total investment value of the project is around EUR 36 mln. The purchase was included as part of the fixed and committed pipeline of Corio back in September 2008. Construction will start before the end of 2008, with the opening expected to take place in 2011.

Stadsplein Spijkenisse, which is being developed by Multi Vastgoed in collaboration with the local authorities in Spijkenisse, will include approximately 10,000 m² of space for retail and catering facilities, 154 apartments, a 750-space underground car park and a new square. The sale to Corio includes the Stadsplein retail area and also the Kolkplein supermarket site, which covers an area of 2,200 m² and has 75 parking spaces.

Heino Vink, retail development director of Multi Vastgoed: 'This will enable us to show that good inner-city locations have not been affected by economic developments. We have also seen this from the consistently high level of interest which retailers have shown in our projects.' The concept is from T+T Design, Multi Vastgoed's in-house design bureau. Dutch architect Sjoerd Soeters from Soeters van Eldonk architects of Amsterdam is responsible for the design.