The business plan assumes partly retaining and refurbishing the heritage components of the old factory while inserting modern accommodation to complement these buildings. It will also incorporate new outside spaces and public realm for both residents and the local community. In addition, the buildings will feature state-of-the-art design and technology (including solar / PV panels, green roofs and façades, heat & cold storage, etc.) to make a sustainable living and working possible. Zaanstad-Wormerveer benefits from excellent transport connectivity being just 20 minutes by road or rail from Amsterdam city center and adjacent to the A7 motorway. The proposed scheme will benefit from its strong micro-location (close to local shops, amenities and schools) while providing much-needed mid-market and affordable housing for the local population.
This acquisition presented a significant opportunity to sustainably develop a new district that will both incorporate and be sympathetic to the site’s heritage properties while at the same time benefit the local community. This transaction also kicks-off our joint-venture in the Dutch residential market alongside specialist partners who bring extensive experience of the Dutch real estate sector. This latest transaction for DFI EVAF, which is our first in the Netherlands, aligns with our investment strategy to identify themes such as residential asset classes that are underpinned by long term growth dynamics and proactively reposition under-managed and under-invested assets to deliver strong returns to our investors. Located in a growth market on the outskirts of a major European city like Amsterdam, the site will benefit from urbanization trends as well as the Dutch residential market’s strong fundamentals. This project is a significant opportunity to develop a new, mixed-use urban quarter for Wormerveer and the Zaanstad region, which will include sustainable and affordable rental and owner-occupied homes that help address the large shortage of residential properties in the area.