Facts
Bezuidenhoutseweg 105, The Hague - after renovation
Bezuidenhout is a popular business district near The Hague central station, the city centre and the Haagse Bos, a green oasis in the heart of the city. This office building, owned by SRLEV, had been rented to the Central Government Real Estate Agency for many years. As such, it even served temporarily as a school, during the construction of the new Zandvlietcollege. In order to prevent vacancy, the owner sought help to determine an appropriate rental strategy.
The challenge
With a single-tenant function and energy label (F), this office building from 1968 is no longer competitive on The Hague’s office market. To make thought-out strategic decisions about the future of the property, asset manager ACTIAM – acting on behalf SRLEV – needs a financially viable redevelopment plan for the long term.
The approach
To make the office building a rentable and profitable prospect for the future once again, a thorough renovation was required with sustainability as the primary focus. Using an integrated redevelopment plan, including a comprehensive business case, CBRE demonstrated how the current building could be transformed into a modern sustainable multi-tenant office building.
The project
The expansion and lowering of the existing main entrance, along with the creation of an additional independent rear entrance, has given the office a multi-tenant entrance area. In addition, the main entrance has been modernised and the raised ground floor at the front of the building has been brought back to street level. This gives the building a more attractive, open and accessible look. The maintenance backlog has been addressed and the landscaping, front and back, has been upgraded. All interventions have been geared towards achieving energy label A and a BREEAM In-Use sustainability certificate with the target level ‘Very Good’.
The result
After extensive renovation works, the office was delivered in October 2016. CBRE and Nadorp gradually held conversations with potential rent candidates. Resulting in an occupancy rate of 70% after less than one year since delivery. Negotiations with other candidates for the remaining floors are currently at an advanced stage.
Quote
"We needed a partner that could provide integral advice and help us with the implementation. CBRE did an excellent job, we are very pleased with the results!”
Tom Brekelmans, Asset Manager Real Estate
