The transaction comprises a total lettable floor area of approximately 6,588 sq m divided into approximately 4,001 sq m of laboratory space, approximately 2,587 sq m of office space and 108 parking spaces. The property is fully let to Genencor International B.V., a subsidiary of the American chemical group DuPont. The property is scheduled for completion in Q2 2020.
Naseer Aka, Head of Real Estate at Rasmala, comments: “We are pleased to be working on our forward commitment transaction in the Netherlands. This strategic asset has provided the opportunity to transact on our first asset in the Netherlands and diversify our geographical footprint in Europe. We continue to diversify our real estate portfolio globally with the aim of creating value for our clients.”
Peter Krop, Managing Director at Dura Vermeer, says: “The sale of the Dupont Development marks yet another successful design and build project for Dura Vermeer. Our approach to be the top player for developing corporate real estate is paying off. Rasmala worked very compellingly and professionally on this deal. We congratulate them on this iconic investment.“
Hassan Farran, Director in Savills Cross Border Investment team, adds: “The purchase of the DuPont building is the first investment of Rasmala in the Netherlands. Leiden Bio Science Park is known as the largest biopharmaceutical park in the Netherlands and is one of the top five science parks in Europe. The cluster of pharmaceutical companies at this location is expected to further strengthen the position of Leiden Science Park in the future. We are therefore very excited to have successfully secured this location for our client." Buyer Rasmala Investment Bank Limited was advised by Savills (commercial and technical) and DLA Piper. Savills is also appointed to manage the property. Seller Dura Vermeer was advised by Cushman & Wakefield and AIM Advocaten.