Hannover Leasing has purchased the Blaak8 office development project in the heart of Rotterdam from developer Kroonenberg Groep for EUR 52 mln.

The scheme, which will house the new headquarters of Dutch energy service provider Stedin, will be delivered to its tenant and the new owner in July 2011. Hannover Leasing will add the property to a new closed-end Holland fund.

The building is located right in front of Blaak train station and offers 13,500 m2 of total lettable area as well as 166 parking spaces. Designed by architects Group A and Dreissen Architecten, the sustainable office scheme boasts an A+ green building label and is leased for a 10-year period to Stedin. The property is being developed by Kroonenberg in cooperation with Blauwhoed Vastgoed.

JLL and law firm Loyens & Loeff advised Hannover Leasing while Kroonenberg Group was legally assisted by Houthoff Buruma.

'As an economically attractive location, the Netherlands harbours great investment potential,' said Hubert Spechtenhauser, managing director of Hannover Leasing. 'This is complemented by a fiscal system that is favourable to German investors, making the Netherlands particularly interesting for closed-end funds.'