M&G Real Estate has acquired a 296-home residential scheme – The Rock – for €60m. It will help to increase local supply levels in the Binck City Park neighbourhood, The Hague.
The scheme includes 197 purpose-built student accommodation (PBSA) homes leased to DUWO, a non-profit student housing specialist; and 99 Build to Rent apartments pre-leased to young professionals at mid-market rents. Amenities include a large communal garden, spaces for commercial and social use, and a shared rooftop garden.
With a Dutch Green Building certificate (GPR) average score of 7.8, the building also meets high sustainability standards. An on-site Thermal Energy Storage System utilises local renewable energy for heating and cooling, while green roofs enhance biodiversity and provide rainwater buffering.
In a city which continues to draw an influx of young professionals and students thanks to high living standards, excellent connectivity and robust local job market, M&G Real Estate’s acquisition of The Rock will help to ease supply issues in the area.
“With its central location in The Hague, focus on sustainability, and emphasis on tenants’ wellbeing, we anticipate that The Rock will cater to growing demand while also generating a stable source of income.”
Laurien Van Wieringen, Director of Investment and Asset Management – Netherlands, M&G Real Estate
Providing high-quality housing in supply-constrained markets like The Hague is a key investment focus as M&G Real Estate continues to expand its residential exposure across Europe.
