ABN Amro sells Amsterdam head office for €750m

Dutch lender ABN Amro has agreed to sell its office headquarters in Amsterdam's Zuidas business district to a consortium of asset manager Victory Advisors, G&S Vastgoed and builder VolkerWessels.

According to Dutch publication Vastgoedmarkt, the buyers are paying almost €750 mln for the asset in what is the country's largest single-asset deal of this year and one of the largest ever in the Netherlands.

Advisor CBRE acted for Victory on the deal.

According to Vastgoedmarkt, the complex will be demolished to make space for several new towers for office and residential use.

ABN Amro announced in November 2020 that it was going to sell the asset while planning to redevelop and expand the office on Foppingadreef in Amsterdam Zuidoost in a cost-saving operation which would spare the group about €700 mln. The bank will partly lease back the space in the Zuidas head office until 2025.

The group's Zuidoost new project near Amsterdam Bijlmer Station is scheduled to be completed by 2025, when it will become the primary hub for most ABN Amro employees.

Together with sustainable property developer Edge and the building’s original architect, BroekBakema, ABN Amro will transform the original 1980s office building into a state-of-the-art, environmentally sustainable workplace with 98,000 m2 of space. The new premises will use 75% less energy compared to the current building.


Latest news

Best read stories