NSI achieves first milestone to re-develop Centerpoint
NSI N.V. has taken a first step in the realisation of the re-development of its Centerpoint asset in Amsterdam. In agreement with the owner of the adjacent property, ASR Dutch Mobility Office Fund, and the municipality of Amsterdam, NSI has signed a letter of intent to re-develop the two plots into a multifunctional location including offices, residential and further services.
The LOI encompasses a potential development of 150,000 sqm of highly sustainable mixed-use space, to be divided between NSI and ASR. For NSI this could potentially result in a substantial densification compared to the current 15,000 sqm of office space at Centerpoint. In the agreement all parties confirm the intention to draw up a detailed urban development plan for the two plots before the Summer of 2020. Detailed plans for each plot are set to follow thereafter.
This initiative is part of a wider ambition by the municipality to upgrade the wider Amsterdam South East area and create a more vibrant, high-end, multifunctional destination. NSI is fully invested in this part of Amsterdam with both its Centerpoint and Laanderpoort assets and is pleased to be a key partner for the Municipality with a shared vision to transform this dynamic area with a strong focus on sustainability, accessibility and well-being.
NSI N.V. (Euronext: NSI / NL0012365084) is a specialist commercial property investor and the only listed real estate investment trust (REIT) focused on well-located offices in economic growth regions in The Netherlands. The NSI team aims to maximise returns for its shareholders through pro-active management of its investment portfolio, value-add initiatives, and disciplined asset rotation. The portfolio, with a value of over one billion euros, is underpinned by a strong balance sheet, with significant capacity to fund both internal and external growth. By investing in attractive space and a high level of services for its customers, NSI can generate sustainable and growing revenues to support an attractive level of dividends. For more information visit our website: www.nsi.nl.