An industrial site of approximately 9,000m2 has been targeted for redevelopment as a residential area in the Netherlands, in response to increased demand for housing in the area.
Round Hill Capital, a US real estate company, and Netherlands-based Boelens de Gruyter have acquired two industrial buildings that they plan to redevelop into residential properties.
The companies have selected the buildings as they are located in a “residential acceleration area” selected by the authorities in Amsterdam for potential rezoning. The aim of this initiative is to meet the strong and increasing demand for housing in Amsterdam.
The current structures are said to have a floor space totalling 8,000m2. Located in the Schinkelkwartier, the properties are said to be in a prime position near the A10 ring-road and the Henk Sneelvlieteweg underground station in Amsterdam.
Michael Bickford the founder and CEO of Round Hill said, “The assets and site have significant opportunities for asset management and potential residential redevelopment, and we believe that the site provides an exceptional opportunity to provide much needed additional housing which is required to support the continued population growth in Amsterdam.”