Rotterdam in development

97 R O T T E R D A M I N D E V E L O P M E N T | 2 0 1 8 disused bridge that connects the two sides of the Lijnbaan will be removed, making the lines of sight more attractive. “Until now, renovations of the Lijnbaan have until always ended up being a bit messy. Unity was always lacking: one kind of awning here, different ones there, because the ownership is fragmented. In 2012, we took the initiative to bring the owners together in the Urban Department Store foundation.” “The foundation aims to manage the Lijnbaan as one big shopping centre, and there were three priorities to achieve that,” Vester explains. Guaranteed clean, complete and secure. Marketing and promotion under one roof. Initiating and monitoring new developments. In relation to the first priority, a contract has been signed with the municipality that means the foundation will pay the municipal cleaning services to provide extra cleaning in the outdoor spaces. REDEVELOPMENT OF OLDENBARNEVELTPLAATS In terms of new developments, there is now a uniform awning plan designed to bring unity, beginning with the first 18 shops in the Forum project. A second development is the renovation of the Oldenbarneveltplaats, the square on the corner of Forum where Lijnbaan and Beurstraverse meet; the tram also slaloms through this area. “You can call this place the true retail heart of Rotterdam, with the most passing trade, but it is also the worst-organised part of the whole area.” Forum is already providing new shops on one side, and a plan is also in the works for the other corners and sides and the outdoor space. “We already have some ideas about that. But before we can tackle that we have to get the plan totally right, because it’s a plan for 30 or 40 years.” TAKING UP POSITIONS Syntrus Achmea RE&F manages the capital of more than 60 institutional investors, including many pension funds. “The company invests €500–€800 million a year in real estate,” says Vester. “We prefer to take over property on a turn-key basis, but that is no longer possible. You have to get in much sooner if you want the good projects, or you’ll miss the boat. So: actively take up positions, taking over sites and former real estate. We pass on the real development work and the associated risks to a specialist, in partnership.” COMMITTED TO THE CITY Achieving sustainable returns is the first duty to the clients who provide the invested capital. “That also means that Syntrus Achmea RE&F is committed to the city’s welfare,” Vester acknowledges. “It’s ‘and-and’. We purchased homes on the Laan op Zuid homes when sales were still not going well. As long ago as 2014 we bought 80 homes in the Fenix project. And, in cooperation with BPD and Woonstad, we are involved in the restructuring of the Wielewaal neighbourhood in Charlois, where we are buying 150 of the 600 homes. Syntrus Achmea RE&F is in it for the long haul. We are acquiring the site for a period of 30 years or longer, which is why we also have an interest in ensuring that the city as a whole is doing well. The same long- term vision prompts us to invest in accelerating sustainability adaptations in existing homes.” With Forum, the capital management firm is also contributing to a value boost for the retail heart of Rotterdam, enabling that area to maintain the current high visitor numbers over the longer term. Rob Vester: ’Syntrus Achmea RE&F is in it for the long haul’