Headquarters reorientation for ING Bank

ING Bank
Client
  • ING Bank
Space
  • 250,000 sq. ft.
Industry
  • Financial Services
Locations
  • Amsterdam
Services Provided
  • Consulting
  • Location Strategy & Economic Incentives
Cresa Team
  • Leon van Leersum

Client Objectives

  • ING Bank was located in various buildings in and around Amsterdam South-east
  • In a distressed office market, ING Bank wanted to consolidate and upgrade its HQ without contributing to the excessive office vacancy prevalent in Amsterdam at the time.

Results

  • REDEPT Cresa created a strategy for a substantial reshuffle of the various ING buildings in Amsterdam Southeast
  • This involved the disposal of its existing HQ building for transformation into residential units, thus reducing the office supply in a weak market
  • Negotiations were carried out for a new HQ complex on a rental basis and rental and development agreements were concluded
  • At the same time, a 500,000 sq ft office complex in which ING Bank already rented half of the space was acquired freehold and then resold on the basis of a sale & leaseback transaction

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