Stoneweg, the alternative investment group specialising in Real Assets, on behalf of Stoneweg European Real Estate Investment Trust (“SERT”), has completed two lease regears, totalling c. 27,000 sqm at two of its flagship office assets, in Rotterdam, The Netherlands, and Krakow, Poland. The leases were agreed in line with the estimated rental value and will deliver combined annual rental income of c. €5.5 million.
At Central Plaza in Rotterdam, Coolblue BV, a Dutch e-commerce leader, has renewed its c. 10,000 sqm lease for a further 5.5 years, commencing in July 2025. Central Plaza is a Grade A, 33,263 sqm BREEAM-certified building in Rotterdam’s central business district, comprising two office towers with ground floor retail and hospitality provision, as well as 481 underground car parking spaces. Serving as its headquarters since 2012, Coolblue will continue to work with SERT and the local municipality on potential asset enhancements.
Located opposite the recently developed Rotterdam Central Station, Central Plaza benefits from excellent public transport connectivity. It is currently 97.5% occupied, with other key tenants including Chubb Insurance, KPMG Netherlands and the government-linked Holland Casino.
The Rotterdam office market is characterised by lower average rents versus Amsterdam, positioning it as a cost-effective choice for businesses and making it more attractive for startups, scale-ups, and multinational firms. This appeal has underpinned rental growth over the past two years of approximately 34 percent (Savills).
In Kraków, Motorola Solutions, a global leader in safety and enterprise technology, has signed a five-year lease renewal, commencing in August 2027, for c. 18,000 sqm of space at the Green Office complex. The 23,000 sqm, Grade A, technology-centric facility with integrated data centre capacity serves as a strategic research and development hub for Motorola, which recently marked its 25th anniversary in the city.
Green Office benefits from excellent public transportation connectivity and is located around 4km from the A4 motorway, Kraków’s ring road that connects to other major Polish cities such as Katowice, Warsaw, Wrocław and Rzeszów, while Kraków-Balice International Airport is only 15-minute drive away.
In Kraków, Poland’s second-largest city, the office market is driven by its robust IT and business services sectors, attracting multinational corporations to its office complexes where rents are more competitive than in Western Europe.
Wouter Zwetsloot, Head of Asset Management at Stoneweg, commented: “These lease renewals underscore the strength of our tenant relationships and the attractiveness of our high-quality office assets in what are key European office locations. Concluded at levels consistent with previous passing rents, the agreements secure a combined annual rental income of nearly €5.5 million. Importantly, both tenants have committed to retaining their current footprints, reflecting long-term confidence in these offices to meet their business needs now and in the years ahead.
“Our office portfolio continues to perform well, with occupancy stabilised at between 85-90 percent, and we remain focused on targeted enhancements that futureproof our assets and align with evolving tenant needs by helping them achieve their sustainability and employee engagement goals.”
