A joint venture between APF International and Angelo, Gordon & co. purchased the Y-Point office building early 2017, aiming to transform it to a high-end, future-proof office building. The building offers around 7,200 m² of leasable floor area and is located at Van Diemenstraat in the Oude Houthaven area in Amsterdam.
The former warehouse complex of the Deli Maatschappij was constructed in 1913. The building was converted from a warehouse to a shared business premise in the 90s. The dark hall areas and the individual freedom that was given to tenants in terms of their interior design had left the building feeling inconsistent and uninviting. In 2016, the building was listed as a municipal monument, attributing special value to the façade facing the IJ waterway as well as the distinct parcelling of the original six warehouses. The redevelopment ambition was to relocate the current tenants, emphasise the monumental value of the building and create a connection indoors between the building’s street-facing side and the side facing the IJ waterway.
During the renovation performed by Dura Vermeer, the bay windows that had been added in 1990 to replace the warehouse doors were removed to make place for a design that is truer to the original look and feel of the façade. Indoors, several openings in load-bearing walls were created or expanded in order for a clear connection between the six original buildings to emerge. The façade openings on the IJ-facing side of the building were optically enlarged and the climate control and electricity installations were replaced in full. Once post-insulation was applied to the roof, these combined measures improved the energy efficiency label from F to A. As a result, the 7,000 m² worth of leasable floor area has been made sustainable for decades to come. The design was created by Cruz y Ortiz Architectos, whose high-profile portfolio includes the Rijksmuseum.
While redevelopment was taking place, a long-term lease agreement was concluded with Fosbury & Sons for the entire building. The building is set for delivery to the tenant in September 2019, who will then commence completion activities. Fosbury & Sons is expected to open its concept early 2019. This will constitute their first branch, with a magnificent view of the IJ waterway.
In accordance with the procurement objective, the joint venture sold the building to German investor Realis AG based on a leased and renovated building.
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