Union Investment has acquired a mixed-use development, De Puls, in Amsterdam’s South Axis district.
The development is expected to complete in the third quarter of 2024 and comprises a 25-storey office tower, a 22-storey residential block and a connecting 9-storey, mixed-use plinth.
The scheme will deliver 36,000 sq m of offices and 200 apartments covering 9,600 sq m of lettable space. 149 of the apartments will be in the rent-controlled mid-segment, while 51 will be let at market rents. The ensemble will include 1,600 sq m of shops and bar/café space, plus a 2,700 sq m cinema complex. There will also be 126 car parking spaces, all designated for electric vehicles as part of a shared mobility concept, and more than 1,300 bicycle parking spaces. The location benefits from excellent public transport links. Schiphol international airport and Amsterdam city centre are just a few minutes away.
The mixed-use project is being constructed by a joint venture between development partners VORM and EDGE.
“De Puls is the perfect example of a compelling mixed-use concept that is more than just the sum of its parts. It aims to create synergies between the different uses. Going forward, we intend to invest significantly more in mixed-use urban complexes of this kind. We are delighted to be working with VORM and EDGE, both of whom are experienced developers. Together we will create a building that will help drive further development of Amsterdam’s South Axis district,” said Martin Schellein, Head of Investment Management Europe at Union Investment.
De Puls is expected to achieve a BREEAM Outstanding rating and WELL Platinum certification.