04 Dec. 2024
Places
NSI acquires unique position at Utrecht Central Station
NSI has acquired Sypesteyn, an 8,500 sqm, 8-storey office building at Jaarbeursplein 22, situated directly adjacent to Utrecht Central Station, for €15.25 mln, excluding transaction costs. The prime location of the asset, together with its long-term potential are a natural fit with NSI’s strategy. Sypesteyn is in close proximity to the vibrant and attractive old city centre which offers a range of shopping destinations, including the Hoog Catharijne shopping centre, as well as a variety of restaurants, theatres and museums. Utrecht Central Station has firmly established itself as one of the most strategic business locations in the Netherlands, combining excellent accessibility with dynamic urban development. Demand for high-quality office space near Utrecht Central Station will continue to outpace supply, driven by the area's central location and growing appeal to businesses across sectors.Currently, the building has a contracted rent roll of €1.1 mln per annum, a WAULT of 1.9 years and EPC label C. With an occupancy rate of 71%, the asset offers near-term asset management potential. In the medium to long term, the building offers significant scope for a large-scale development, which directly aligns with NSI’s strategy to offer sustainable places with a comprehensive range of services at easily accessible and vibrant locations in major cities in the Netherlands.Ahmed Ouahim, Head of Investments at NSI, commented: “Sypesteyn is NSI’s first acquisition in three years and represents a unique opportunity to invest further in Utrecht’s prime market. The asset offers immediate cashflow, can be optimized in the near term through active asset management and holds substantial development potential in the medium to long term. It is therefore well-positioned to benefit from significant rental growth in the future.”