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Rockspring secures three lettings at Le Mirage in Utrecht

Le Mirage
Rockspring Property Investment Managers LLP has completed three new lettings totalling 1,350 sqm across two floors, at Le Mirage, an multi-let office building in Utrecht. The new tenants include Cycleon Netherlands B.V., a supply chain and service integrator, the recruitment agency Timing, and software company Bloxs. The lettings add to the 9 leasing successes Rockspring has already secured at Le Mirage since it acquired the property in June 2015. The 12 new leases, which total 7,756sqm, have all been signed at ERV and together have reduced the vacancy at the property from 66% on acquisition to 22%. Cycleon has let 715 sqm and Timing and Bloxs will take 465 sqm and 170 sqm respectively.

Since taking ownership of the building, Rockspring has seen a high demand for space from businesses operating in the finance and recruitment sectors. Anchored by long term tenant ABN Amro, Rockspring has successfully signed GGN Mastering Credit N.V.; First Pensions Financial Analyses & Support; Two-Be Engineering B.V.; Kneipp Nederland B.V.; Alstom Transport B.V.; YER Group B.V.; Freelance Fair B.V.; G20; and Myler. Each Tenant has signed a five year lease, in line with Dutch market practice.

Located at The Europalaan, a business district in Utrecht, Le Mirage, which was developed in 2008, was designed by the architecture firm Kohn Pedersen Fox and comprises 18,500 sqm of high quality office space across 21 floors, including a recently renovated ground floor reception with business lounge and a Vascobelo operated espresso bar. The area immediately surrounding the building has undergone significant improvement in the last 2 years with a number of international private equity groups committing to student housing developments, as well as other neighbouring assets.

Laurien van Wieringen, who is responsible for Asset Management in Benelux at Rockspring commented: „When we acquired Le Mirage in 2015, just three tenants were in occupation and it was 66% vacant. Rockspring's active asset management and leasing strategies, alongside the high quality fit out of this
iconic office building and welcoming ground floor business lounge with Belgian coffeebrand Vascobelo espresso bar, have resulted in agreements with 12 new tenants in just 18 months. We have reduced the vacancy to circa 22%, positively impacted on the capital value of the property and increased the appetite for space in the building among prospective tenants. We are currently in negotiations with several more potential occupiers and anticipate that the property will be fully let by 2018.“

CBRE and Ans de Wijn Bedrijfshuisvesting are the letting agents for Le Mirage.