Nuveen Real Estate and G&S Vastgoed celebrate the start of renovation at Prinses Irenestraat 59 in Amsterdam

21 September 2022

Nuveen Real Estate, one of the largest investment managers globally, announces the start of the reconstruction of PI59. The asset was acquired in 2020 and scheduled completion of the best-in-class office space is set to take place in Spring 2024. G&S Vastgoed have been appointed as development manager in partnership with V8, the appointed architects for the project. The building, which dates back to the 1970s, has historical roots as one of the first to stand on the Zuidas.

A new lease of life at PI59

The renovated space will boast 17,800 m2 of office space across six floors and has been designed to incorporate sustainability and local green spaces throughout. In what has been described as ‘the workplace of the future’, tenants will have access to an open roof terrace, hidden parking and a terraced catering facility as well as views of the onsite outdoor sports facility.

From the outside, the new façade will feature large windows, all of which can be opened, held together by sustainable terrazzo (a sustainable material made with marble pellets and cement) and inlaid with refined brass, which will age gracefully.

Designed to go beyond the targets set by the Paris Climate Agreement accreditation, the building will be renovated using low CO2 emission materials and includes an advanced energy generation system. This fits Nuveen Real Estate’s wider commitment to achieve net zero carbon across its global real estate portfolio, worth $138 billion, by 2040 – ten years ahead of the Paris Accord.

Sebastian Zwart, portfolio manager at Nuveen Real Estate, commented:

“We are excited to begin redevelopment of Prinses Irenestraat 59. This project will seek to improve the sustainable efficiency of the building and provide tenants with a modern workplace designed with their employees in mind.

Upon completion, we hope it will join Nuveen’s existing portfolio of assets with a BREEAM Excellent and WiredScore Gold certificates.”

Van Gool Elburg Vastgoedspecialisten is advising on the lease of the building. Prinses Irenestraat 59 was designed by V8 Architects and Felixx Landscape Architects. The project is built by Bouwbedrijf Wessels Zeist.

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