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Report of the Board of Directors

The Fund’s optimisation strategy

The Fund’s strategy is to optimise its portfolio through targeted acquisitions, continuous enhancement of core assets and the divestment of non-core office buildings.

Key market developments

Underlying aspects

Implications

Opportunities

The Dutch knowledge economy

Need to meet, share knowledge and expertise

Demand for multifunctional and easy accesible locations

Create the most fitting office concepts at the most desirable locations

Demand for multi-tenant suitability

The New World of Work

Rise of self-employment: nomad professionals

  

Need for efficiency: plug-and-work

No more 9-to-5: shift of working hours

Urbanisation

Demand for central locations in big cities

High vacancy rates at secondary locations; Randstad regaining strength

Healthy outlook for central locations in big cities

Sustainability

Growing awareness of benefits of sustainable office space

Demand for comfortable and energy-efficient office space

Strategic actions in 2015

  • Divestment of 15 non-core assets

  • Renovation of the Plaza at WTC The Hague

  • Preparations for the redevelopment of the Citroën buildings in Amsterdam

  • Reorganisation of the property management for WTC Rotterdam

  • Continued active asset management approach led to extended leases with major tenants

  • Continued roll-out of smart energy partnerships and tools

  • Partnerships with councils and corporate sector to improve and promote business districts

  • Investment in property upgrades to support new lettings

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