New Babylon in The Hague
Capreon acquires New Babylon, a prime office asset in The Hague, the Netherlands, from PFA Pension and Hannover Leasing
Capreon, a pan-European real estate investment management firm, today announced the acquisition of New Babylon, a prime city-centre office asset in The Hague, the Netherlands, from PFA, Denmark’s largest pension fund, and Hannover Leasing, a German-based investment and asset manager.
New Babylon comprises 49,000 sqm of office, retail, and leisure space and is 95% let to several long-term tenants including TNO, the Netherlands’ largest independent research and technology institute. Located adjacent to The Hague’s Central Station, the property benefits from excellent connectivity to cities across the Netherlands and Europe, and offers high-quality amenities alongside strong ESG credentials with A+++ and A++ energy labels and a BREEAM In-Use “Very Good” rating. In an already supply-constrained office market, tenants’ continued demand for high-quality, well-located space, reinforces New Babylon as an attractive investment and place to work.
Capreon will look to continue PFA and Hannover Leasing’s efforts in improving rental performance through active asset management initiatives and further investment into the building’s energy and sustainability infrastructure.
The transaction demonstrates Capreon’s continued confidence in the prime end of the office market following the firm’s recent acquisition of 70 St Mary Axe, London and the “Technique” building on Goswell Road, London. The purchase of New Babylon also builds on Capreon’s recent track record in the Netherlands following its landmark deal in Q2 2025 with the municipality of Eindhoven at Brainport Industries Campus.
Raphael Noe, CEO at Capreon said:
“On the back of our recent acquisition of 70 St Mary Axe, London, we are delighted to announce our purchase of New Babylon, another institutional prime Grade-A office asset. The office’s core location adjacent to The Hague’s Central Station as well as its strong tenant offerings and ESG credentials position it well within a market where new supply is constricted and tenant demand for best-in-class workspace remains strong. We look forward to being continued stewards of this prime asset following the successful management and investment delivered under PFA Pension and Hannover Leasing’s ownership.
Our team on the ground in the Netherlands is excited to work on this opportunity, building on our Dutch track record”.
Peter Morgan, Head of Real Estate at PFA said:
“The sale is a natural part of our strategic shift, where we are gradually winding down our international real estate allocation and increasing our focus on directly held properties in
Denmark. The transaction supports our ambition to build a more focused, home-market-oriented portfolio”.
NL Real Estate (commercial), CMS (legal), Drees & Sommer (technical), Deloitte (financial), and Borgen Tax (tax) advised Capreon on the Transaction. Colliers advised Hannover Leasing and PFA Pension on the transaction. They were supported by Houthoff (legal), KPMG (tax and financial) and SGS Search (technical).
About Capreon
Capreon is a Real Estate Investment Management firm investing across the full capital structure, focusing on the UK and leading European cities. Capreon employs a sector agnostic approach and invests in real assets that deliver attractive risk-adjusted returns. Headquartered in London, with offices in the Netherlands and Spain, Capreon manages £1.5 billion of assets located across the UK and major European cities.
Further information can be found at capreon.com.