HIH Secures New Tenants for Amsterdam Office Building

HIH Invest has signed long-term leases for a total of 2,443 square metres of office space in central Amsterdam over the past six months. The property at Vijzelstraat 66–80 is now fully occupied following the agreements with three new tenants.

AMS-IX, operator of the Amsterdam Internet Exchange, has leased 1,029 square metres, while food delivery company Flink has taken 752 square metres and an international music streaming service occupies 660 square metres. The multi-tenant building offers a total of 21,083 square metres and already counts Spaces, Randstad, Angelo Gordon and Booking.com among its occupants.

“With the new leases, we were able to increase the total rent by four percent,” said Malte Wallschläger, Head of International Asset Management at HIH Real Estate. “Both yield and internal rate of return are currently well above the levels calculated when the building was acquired in 2014. We expect further growth potential, as the supply of new office space in the city centre remains very limited.”

The vacancies emerged after existing tenants adjusted their office requirements. HIH quickly brought the units back to the market with support from broker DRS Makelaars.

“The property is in a prime location in Amsterdam’s Grachtengordel, directly connected to the M52 underground line,” noted Ferenc Trexler, Senior Asset Manager at HIH in the Netherlands. “It was fully refurbished in 2014 to create modern, flexible offices with panoramic views and roof terraces that are highly valued by tenants. The new leases were signed at the top rent levels seen in the city centre.”

HIH manages a portfolio of six office buildings in Amsterdam and four logistics assets in Zwolle, Breda, Halfweg and Bleiswijk, totalling around 300,000 square metres of fully let space. Earlier this month, the company expanded its Amsterdam presence by moving into larger premises at Beethovenstraat 500.