U.S. investor to develop new urban neighborhood in Utrecht

Round Hill Capital, G&S Vastgoed, and real estate developer Boelens de Gruyter have acquired a development site in Utrecht, Netherlands.

Located between Merwede Canal and Park Transwijk, the area is in the south-western part of the city stretching from the A12 Ring Road to the Holland Casino on the Overste Den Oudenlaan. Last week, the Utrecht City Council approved the vision for the area and the environmental impact report as a starting point for redevelopment of the new city district. The new city district is also intended to provide housing for the expected increase in the number of residents of the City of Utrecht. The population of Utrecht is projected to increase from 345,000 to 410,000 between now and 2030.

“The plan is very much in line with the strategy already set out by the city council, not only in a quantitative sense – after all Merwede will provide space for thousands of new residential units – but also in a qualitative sense,” said Paulus Jansen, City Councillor for Housing. “The new neighborhood will create a varied, sustainable, and attractive space for all its residents.”

Round Hill Capital, G&S Vastgoed and Boelens de Gruyter have acquired a total of 462,00 square feet located at Kanaalweg 14-19, currently comprising of over 12 office buildings, known as the ‘Smart Business Park’. With this development, Round Hill Capital will become the largest private investor in the new Utrecht neighborhood.

This transaction reflects the expansion of Round Hill’s residential strategy in the Netherlands to include the development of residential and student accommodation assets. Over the past four years, Round Hill has successfully established its residential investment and asset management platform in the Netherlands and has consistently acquired portfolios throughout this period, with its total number of units acquired over 10,000. Round Hill has acquired and managed more than 100,000 residential units across Europe.

“For the Netherlands as well as Europe as a whole, this will be a new and unique type of urban neighborhood,” said Maarten de Gruyter, director of Boelens de Gruyter. “The city council aims to facilitate the development of a lively, green, and energy-efficient neighborhood. After completion, vehicles will be able to park only at the edge of the neighborhood and in special garages so that cars and other vehicles will disappear from the street. The elimination of motorized traffic and the emphasis on pedestrian traffic and bicycles will create new and promising opportunities for alternative types of transport including public transport, car sharing, and the creation of so-called mobility hubs.”

The buyer is being assisted by Arnoud Matthijssen of HMK Notarissen (Notaries).