As fund director Luc Joosten points out, “The Gallery is an excellent acquisition for the ASR Dutch Science Park Fund portfolio. The building meets all the fund’s criteria, while at the same time making a positive contribution towards the return objectives and the desired geographical spread. The Gallery is our first purchase on the University of Twente campus. It is our aim to acquire more properties in this and other science parks in the Netherlands.”
“The University of Twente is pleased that The Gallery has been purchased by a party with a long-term vision for campus development and science parks. The Gallery is an important building when it comes to strengthening the link between the campus on one side and the Kennispark on the other side of Hengelosestraat. We – the university, the municipality and local entrepreneurs – are committed to fulfilling the Kennispark Twente area strategy, the primary goal of which is to strengthen that link. We look forward to working together with the new owners and our other regional partners in order to achieve this goal.”
The 300-metre long building has space for offices, businesses and laboratories, and has a reception area, car park, restaurant and Grand Café. It is situated on Hengelosestraat 500 in Enschede, on the boundary between the Business and Science Park and the University of Twente, at the heart of Kennispark Twente.
The Gallery was officially opened in April 2014 after the University of Twente and a group of regional investors (VolkerWessels, Weshold, BTC-Twente, Nieuwzicht in Bogt, Reggeborgh Vastgoed and DTME) had decided to redevelop the existing building into this concept for bringing businesses together. The building will continue to be managed by BTC-Twente B.V.
Real estate agent Peter Rotteveel of Snelder Zijlstra was involved in the setting up and completion of the agreement on behalf of the vendor, The Gallery B.V.
Kennispark Twente is home to upwards of 400 high-tech and other businesses, more than 900 spin-offs, and is a breeding ground for start-ups, all of which are set to make a difference in the world. Thanks to the presence of the University of Twente, other educational institutions and a number of large innovative companies, Kennispark Twente fulfils an important role in the region. Kennispark Twente is one of the Netherlands’ more mature campuses, and in 2020 has maintained its position in the top 10 in the a.s.r. real estate Science Park Filter.
About the ASR Dutch Science Park Fund
The ASR Dutch Science Park Fund was founded on 1 March 2019 by a.s.r. real estate. The Fund, which invests in commercial real estate, focuses on the most attractive science parks in the Netherlands. Through these investments, a.s.r. real estate actively contributes to the development of the Dutch knowledge sector, fostering local science park ecosystems and offering companies the opportunity to be physically closer to new technology and expertise. This promotes the development of new knowledge and innovative products and services, creating valuable social returns.
The ASR Dutch Science Park Fund is the fourth sector fund founded by a.s.r. real estate, with a primary focus on institutional investors. As with the retail, residential and office funds, ASR Nederland N.V. acts as anchor investor.