The Hague's New Babylon complex changes hands to Capreon

Danish pension company PFA Pension and German real estate firm Hannover Leasing have sold the New Babylon complex in The Hague to UK investment firm Capreon.

New Babylon, The Hague

Although the price was not officially revealed, it is estimated be around the €120 mln mark.
The complex consists of 49,000 m2, of which 41,000 m2 of office space and 8,000 mw of commercial space on the ground floor. It is located next to the Den Haag Centraal railway station.
Built in 1978, New Babylon underwent expansions in 2012 and upgrades between 2017 and 2019, achieving high energy efficiency ratings (A+++, A++) and a BREEAM-In-Use Very Good certification. It offers numerous amenities like a conference centre, gym, and various shops and eateries.
With over thirty companies as tenants, including TNO and the Netherlands Patent Office, the complex is currently 95% occupied. PFA Pension and Hannover Leasing decided to sell due to strategic reasons and recent successful leasing efforts. 
Capreon plans to continue improving the property's rental performance and invest further in its energy and sustainability infrastructure.
Dré van Leeuwen, executive director, Capital Markets, said: “New Babylon is an iconic complex in a prime location in The Hague. This sale highlights the strong demand for sustainable, high-quality office space in the Netherlands.”
PFA Pension and Hannover Leasing were advised by Colliers, Houthoff, KPMG and SGS Search. Capreon was advised by NL Real Estate|Knight Frank, CMS, Borgen Tax, Deloitte and Drees & Sommer.