Advised by L’Etoile Properties – Union investment sells ‘DE MONARCH I’ to AMUNDI Real Estate

The Hague 13 July 2016 – Union Investment Real Estate GmbH sold its building ‘De Monarch I’ in The Hague, The Netherlands, to AMUNDI Real Estate. The sale comprises approximately 17,000 m² of office space and a car park with 181 spaces.

Single tenant

The property is located in the heart of the Beatrix quarter, The Hague’s Central Business District, and is part of De Monarch development. This high quality single tenant office building is let by its semi-public tenant CAK, with a remaining long term lease.

Sustainability

The property De Monarch I was completely redeveloped in 2012 into a class A grade office building. Sustainability has been explicitly taken into account with the redevelopment of the building and the installations. The use of the existing structure, connection to the area-bound heat and cold storage system, the optimal use of daylight, and the presence detection lighting all contributed to the green building certificate BREEAM-NL Excellent score and an Energy label A.

Stakeholders

De Monarch is a development of Provast. The design is by KCAP Architects & Planners.
Savills advised Union Investment during the sale transaction. BOEKEL provided legal advice.
AMUNDI Real Estate was advised by L’ETOILE PROPERTIES and Greenberg Traurig.

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