18 November 2020

Time Equities Inc. purchases office campus of over 14,000 sqm in Deventer, the Netherlands

Time Equities Inc. (TEI) recently purchased an office campus at Staverenstraat 15-17 in Deventer. The complex has a total floor area of 14,341 sqm and 350 parking spaces and consists of three office buildings: building A with an area of 4,716 sqm, building B with an area of 6,761 sqm and building C with an area of 2,864 sqm. The whole is situated on a plot of 22,342 sqm.

Buildings with their own identity

Building A was recently renovated to a high standard and equipped with a new fit-out, including a representative meeting center and restaurant facilities on the first floor. The renovation has made the building completely future-proof.

Buildings B and C are currently only partly leased. TEI will renovate both buildings and make them sustainable according to the new SQM Offices concept. The campus-like setting will be enhanced by the addition of greenery and various facilities, and the buildings will each be given their own identity. In this way the offices will be better suited to the various target groups in Deventer’s strong creative IT and tech sector

Clubhouse function

John Schepens, Director of Acquisitions and Asset Management at Time Equities Inc. in the Netherlands: “Post-corona, offices will have an even more ‘clubhouse’ function, where work-life balance plays an even more prominent role. With the spacious campus-like setting and our new SQM concept, we respond to this by facilitating relaxation and work at the same location.”

The selling party was advised in this transaction by CBRE. The buyer TEI was legally assisted by Houthoff.