Possible expansion WTC Amsterdam

CBRE Global Investors and the municipal council of Amsterdam have reached agreement on the possibility of expanding the World Trade Center in Amsterdam measuring 32,000 m2 of gross floor area for offices and amenities. On Tuesday 20 September both parties signed a corporation agreement, for this matter. The expansion of the WTC Amsterdam is part of the Strawinsky urban development plan.

The expansion is planned to take place at the corner of the Beethovenstraat and Strawinskylaan on basis of a design by architect PLP Architecture, a renowned London architectural office. The start of the realisation is scheduled for mid-2018, to be completed by the end of 2020. During the realisation of the expansion, also the neighbouring 17,000 m2 gross floor area office tower will be renovated.

WTC Amsterdam is the flagship asset of the CBRE Dutch Office Fund (“CBRE DOF”) measuring approximately 125,000 m2 of lettable area for offices and amenities. The expansion of WTC Amsterdam will further increase the competitiveness of the complex as well as the Zuidas quality. The expansion of WTC Amsterdam is the next step in the implementation of the strategy of the CBRE DOF, which was deployed by CBRE Global Investors in close cooperation with its investers. CBRE Global Investors itself will undertake the development and renovation of this complex.

Jean-Pierre Spierts, Asset Manager CBRE Global Investors :

“We see opportunities, while collaborating with the municipal council of Amsterdam, to give the WTC Amsterdam an additional quality boost. With this scheduled expansion, we respond to the needs and trends within the office market, enabling us to continuously improve the service to our tenants and office users.“

Ronald van der Waals, Portfolio Director DOF, CBRE Global Investors:

“We are very pleased with the conclusion of the agreement on expansion of the World Trade Center Amsterdam. After the acquisition of NoMA House and the start of the realisation of WTC Utrecht, the expansion of WTC Amsterdam perfectly fits within the CBRE Dutch Office Fund strategy, investing in the best office locations in multifunctional buildings, for which there is sustainable demand.”