Union Investment signs long-term lease with Houthoff in ITO Tower, Amsterdam CBD, the Netherlands

The high-quality ITO Tower, completed in 2005 at Gustav Mahlerplein 50, has a total floor area of 34,551 sq m and was designed by architect Toyo Ito. In the near future, Houthoff will carry out a large-scale renovation of the leased space, ensuring the high quality of the property and further improving the buildings’ sustainability.

Marc Antoine, Asset Management Europe, says: "We are delighted that Houthoff has recommitted to the location. This confirms that modern office space in attractive locations remains in demand, even in uncertain times. Amsterdam's South Axis is still one of the most popular office CBD’s in Europe".

Irene van Esseveld, Associate Account Manager at Savills in the Netherlands, adds: "We are proud that as a partner of Union Investment, we were able to contribute to the renewal of Houthoff's lease agreement. In line with the owner's ambitions, the ITO Tower will be further improved to ensure the future sustainability of the building. Our Property Management team will remain involved in the execution of these works. Houthoff's choice of ITO Tower once again confirms that the South Axis is the beating heart of business services in the Netherlands.”

During this transaction, landlord Union Investment Real Estate GmbH was advised by Savills. Houthoff was assisted by Cushman & Wakefield.