An institutional investor acquires “The Monarch Tower” in The Hague
An institutional investor recently acquired the office building with parking garage located at Prinses Beatrixlaan 5 in Den Haag from a German real estate special fund serviced by Hansainvest Hanseatische Investment-GmbH and advised by s.boehme & co. Management GmbH.
The building is located on freehold land on a prime location within the Beatrix Kwartier, The Hague’s Central Business District. The Monarch Tower is situated close to The Hague Central Station between Prinses Beatrixlaan and Utrechtsebaan. The area is a mix of businesses, homes and recreational facilities. The building is developed in 2013 and forms a part of a development of three new tower blocks and one existing refurbished building.
The Monarch Tower is approximately 13.620 sq. m. in size with 121 parking places in the underground parking garage. The asset is fully leased to a mix of 11 tenants with a strong covenant.
The Monarch Tower is an exceptionally sustainable building. It is highly insulated and has an underground thermal energy storage system. A wide range of other system-related measures, such as LED lighting and motion detectors, ensures that the building uses significantly less power than comparable buildings. The building was awarded BREEAM-NL certification with an ‘Excellent’ rating.
This transaction was commercially advised by Van Gool Elburg Vastgoedspecialisten B.V.