Hamburg-based Warburg-HIH Invest has bought an historic building in central Amsterdam for an institutional investor.

Hamburg-based Warburg-HIH Invest has bought an historic building in central Amsterdam for an institutional investor.

The property at Herengracht 124-128 was sold by a private owner, having been renovated in 2008. The Dutch land registry listed the sale price as €19.35 mln.

The offices are fully occupied by Spaces, a company that provides flexible office facilities for entrepreneurs, on a long-term lease with around 23 years left to run. Spaces was taken over by Dutch-based office landlord Regus in June 2014.

A small portion of the 4,623 m2 office area is taken up by storage units and there are 40 underground parking spaces.

Warburg-HIH Invest said the property on Herengracht had been obtained within the framework of an individual mandate for an institutional investor.

Managing director Andreas Schultz said: ‘Due to its central location and a virtually support-free ground floor, which lends itself to flexible structuring, this building is highly sought by companies in the creative and communication sectors.

‘This, together with the long-term master lease, implies a very high degree of income security for the investor.’