1 Dec 2017

M7 Real Estate Netherlands B.V. leases 1,967 sq m in Amersfoort to Nederlandse Drogisterij Service B.V.

Amsteram, 1st December 2017 – M7 Real Estate Netherlands B.V. (“M7”) has completed a letting transaction for its fund M7 EREIP IV Dutch Propco 2 B.V. (“the Fund”) at Printerweg 6 in Amersfoort. Nederlandse Drogisterij Service B.V. (“NDS”) has signed a long term contract to lease approximately 1,967 sq m of office space over several floors and is also taking 40 parking spaces. The property is located at the “De Hoef” buisiness park.

NDS is a franchise organization for independent drugstores in the Netherlands and has its own distribution centre. They are also franchisor for the D.I.O and DA brands.

The Fund acquired the property in August 2017 with M7 acting as asset manager. Immediately after the acquisition M7 undertook an active asset management programme by relocating one of the the current tenants, the Chamber of Commerce, within the building. This then allowed NDS to rent the requisite floor space they required for their operations. The property was acquired with a vacancy rate of 66%, which has been reduced to 3% within four months by virture of this transaction.

MVGM bedrijfshuisvesting acted on behalf of M7 Real Estate.

De Nederlandse Drogisterij Service B.V. was advised and assisted by Vastgoed Centraal from Hilversum.