Description
Denneweg 126 B, The Hague
PROPERTY DESCRIPTION
The property concerns a retail unit located on the ground floor and first floor of a characteristic building, originally constructed around 1875.
The retail space is fully let and is offered as an investment property. The leased premises are occupied by Madal Bal, a well-established tenant.
The property falls under the regime of Article 7:290 of the Dutch Civil Code.
LOCATION FACTORS
The retail unit is located on the Denneweg, one of the oldest and most characteristic shopping streets in the historic city center of The Hague. The Denneweg forms the heart of the so-called Buurtschap Centrum 2005 and is known for its strong mix of food, lifestyle, fashion, and beauty.
In the immediate vicinity, various high-quality shops, specialty stores, hospitality venues, and service providers are located. Businesses such as Spaaz, Bouzy, Dekxels, and Impero Romano contribute to the vibrancy of the area. In addition, Lange Voorhout, Hotel Des Indes, the Binnenhof, the Hofvijver, and several museums are within walking distance.
The surrounding neighborhoods, including the Archipelkwartier, are characterized by strong purchasing power and a large (international) flow of residents and visitors.
FLOOR AREA
The total floor area is approximately 205 m² NFA (in accordance with NEN 2580), located on the ground floor and first floor.
DELIVERY CONDITION
The property will be delivered in its current let condition, on an “As is, Where is” basis.
ENERGY LABEL
The property has an Energy Label A.
The Energy Label is valid until 29 December 2032.
ACCESSIBILITY
Accessibility is excellent. The Denneweg is easily accessible by car, bicycle, and public transport. The on- and off-ramps of the A4, A12, A13, and A44 motorways are located nearby.
Public transport is well organized, with various tram and bus connections to, among others, The Hague Central Station and The Hague Hollands Spoor.
PARKING
The property does not have private parking facilities. Paid on-street parking is available in the immediate vicinity. It is also possible to apply for a business parking permit.
RENTAL INFORMATION
- Tenant: Madal Bal;
- Rental income: €60,000 per annum;
- Lease term: running until and including 31 May 2027.
ASKING PRICE
€850,000 costs buyer (k.k.).
TRANSFER
In consultation.
CADASTRAL INFORMATION
Municipality: ’s-Gravenhage
Section: E
Number: 3589
Apartment index: A3
VAT
No VAT is due upon transfer and delivery.
SECURITY
Upon signing the purchase agreement, the buyer shall, as additional security for the fulfillment of their obligations, deposit a security amount equal to 10% of the purchase price into the civil-law notary’s escrow account within 10 working days after both parties have signed the agreement reflecting mutual consent.
PURCHASE AGREEMENT
Standard NVM commercial real estate (BOG) purchase agreement.
SALES CONDITIONS
Sales conditions apply to this transaction, as outlined below. By submitting an offer and entering into the purchase agreement, the buyer confirms familiarity with and acceptance of these sales conditions.
- The buyer has reviewed the non-binding property information prior to entering into the purchase agreement and explicitly accepts its contents.
- A project notary applies.
- The buyer is given the opportunity, prior to entering into the purchase agreement, to have the property inspected by a certified building inspection company to identify any structural defects, and/or to have the property inspected for the presence of asbestos-containing materials and/or soil contamination. The buyer has made / has not made use of this opportunity.
- The buyer declares to be aware that the property is more than 60 years old. This implies that the construction quality standards that may be expected are considerably lower than those for new buildings. Unless the seller has guaranteed such quality, the seller is not liable for floors, utility lines for electricity, water, and gas, heating and hot water installations with accessories, sewage systems, or the presence of penetrating or rising damp.
- The seller is not aware of any asbestos-containing materials having been incorporated in the property or its installations, other than what was customary at the time the property was constructed. The seller is also not aware that asbestos-containing materials were later used by other (previous) owners or occupants during any renovations and/or alterations. If asbestos-containing materials are removed, including asbestos-containing floor coverings, special measures must be taken in accordance with (environmental) legislation. The buyer declares to be aware of this and indemnifies the seller against all liability arising from the presence of any asbestos-containing substances in the property.
- The property is sold on an “As is, Where is” basis.
- If the value on which the buyer is liable to pay transfer tax can be reduced due to a transfer occurring within six months of a previous transfer, in accordance with Article 13 of the Dutch Property Transfer Tax Act (Wet op Belastingen van Rechtsverkeer), and the buyer therefore does not have to pay the transfer tax normally due, the buyer shall compensate the seller for the difference between (i) the transfer tax that would have been due without such reduction and (ii) the transfer tax actually due.
- If legal transfer takes place later than agreed, the buyer shall be charged interest at a rate of 8.5% of the purchase price per annum, calculated from the agreed date of legal transfer up to and including the actual date of legal transfer, payable simultaneously with the purchase price upon transfer of ownership. This interest is not due if the delay is attributable to the seller’s risk.
Relevant documents relating to the property are available for inspection at our office upon request. These include, for example: documents of the owners’ association, house rules, proof of ownership, deed of division, division drawings, regulations, and ground lease conditions.
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The above property information has been compiled with due care. However, no liability can be accepted for its accuracy, nor can any rights be derived from the stated information. Floor areas and other measurements are indicative only and may differ in reality. It is expressly stated that this information does not constitute an offer or quotation.
PROPERTY DESCRIPTION
The property concerns a retail unit located on the ground floor and first floor of a characteristic building, originally constructed around 1875.
The retail space is fully let and is offered as an investment property. The leased premises are occupied by Madal Bal, a well-established tenant.
The property falls under the regime of Article 7:290 of the Dutch Civil Code.
LOCATION FACTORS
The retail unit is located on the Denneweg, one of the oldest and most characteristic shopping streets in the historic city center of The Hague. The Denneweg forms the heart of the so-called Buurtschap Centrum 2005 and is known for its strong mix of food, lifestyle, fashion, and beauty.
In the immediate vicinity, various high-quality shops, specialty stores, hospitality venues, and service providers are located. Businesses such as Spaaz, Bouzy, Dekxels, and Impero Romano contribute to the vibrancy of the area. In addition, Lange Voorhout, Hotel Des Indes, the Binnenhof, the Hofvijver, and several museums are within walking distance.
The surrounding neighborhoods, including the Archipelkwartier, are characterized by strong purchasing power and a large (international) flow of residents and visitors.
FLOOR AREA
The total floor area is approximately 205 m² NFA (in accordance with NEN 2580), located on the ground floor and first floor.
DELIVERY CONDITION
The property will be delivered in its current let condition, on an “As is, Where is” basis.
ENERGY LABEL
The property has an Energy Label A.
The Energy Label is valid until 29 December 2032.
ACCESSIBILITY
Accessibility is excellent. The Denneweg is easily accessible by car, bicycle, and public transport. The on- and off-ramps of the A4, A12, A13, and A44 motorways are located nearby.
Public transport is well organized, with various tram and bus connections to, among others, The Hague Central Station and The Hague Hollands Spoor.
PARKING
The property does not have private parking facilities. Paid on-street parking is available in the immediate vicinity. It is also possible to apply for a business parking permit.
RENTAL INFORMATION
- Tenant: Madal Bal;
- Rental income: €60,000 per annum;
- Lease term: running until and including 31 May 2027.
ASKING PRICE
€850,000 costs buyer (k.k.).
TRANSFER
In consultation.
CADASTRAL INFORMATION
Municipality: ’s-Gravenhage
Section: E
Number: 3589
Apartment index: A3
VAT
No VAT is due upon transfer and delivery.
SECURITY
Upon signing the purchase agreement, the buyer shall, as additional security for the fulfillment of their obligations, deposit a security amount equal to 10% of the purchase price into the civil-law notary’s escrow account within 10 working days after both parties have signed the agreement reflecting mutual consent.
PURCHASE AGREEMENT
Standard NVM commercial real estate (BOG) purchase agreement.
SALES CONDITIONS
Sales conditions apply to this transaction, as outlined below. By submitting an offer and entering into the purchase agreement, the buyer confirms familiarity with and acceptance of these sales conditions.
- The buyer has reviewed the non-binding property information prior to entering into the purchase agreement and explicitly accepts its contents.
- A project notary applies.
- The buyer is given the opportunity, prior to entering into the purchase agreement, to have the property inspected by a certified building inspection company to identify any structural defects, and/or to have the property inspected for the presence of asbestos-containing materials and/or soil contamination. The buyer has made / has not made use of this opportunity.
- The buyer declares to be aware that the property is more than 60 years old. This implies that the construction quality standards that may be expected are considerably lower than those for new buildings. Unless the seller has guaranteed such quality, the seller is not liable for floors, utility lines for electricity, water, and gas, heating and hot water installations with accessories, sewage systems, or the presence of penetrating or rising damp.
- The seller is not aware of any asbestos-containing materials having been incorporated in the property or its installations, other than what was customary at the time the property was constructed. The seller is also not aware that asbestos-containing materials were later used by other (previous) owners or occupants during any renovations and/or alterations. If asbestos-containing materials are removed, including asbestos-containing floor coverings, special measures must be taken in accordance with (environmental) legislation. The buyer declares to be aware of this and indemnifies the seller against all liability arising from the presence of any asbestos-containing substances in the property.
- The property is sold on an “As is, Where is” basis.
- If the value on which the buyer is liable to pay transfer tax can be reduced due to a transfer occurring within six months of a previous transfer, in accordance with Article 13 of the Dutch Property Transfer Tax Act (Wet op Belastingen van Rechtsverkeer), and the buyer therefore does not have to pay the transfer tax normally due, the buyer shall compensate the seller for the difference between (i) the transfer tax that would have been due without such reduction and (ii) the transfer tax actually due.
- If legal transfer takes place later than agreed, the buyer shall be charged interest at a rate of 8.5% of the purchase price per annum, calculated from the agreed date of legal transfer up to and including the actual date of legal transfer, payable simultaneously with the purchase price upon transfer of ownership. This interest is not due if the delay is attributable to the seller’s risk.
Relevant documents relating to the property are available for inspection at our office upon request. These include, for example: documents of the owners’ association, house rules, proof of ownership, deed of division, division drawings, regulations, and ground lease conditions.
+++
The above property information has been compiled with due care. However, no liability can be accepted for its accuracy, nor can any rights be derived from the stated information. Floor areas and other measurements are indicative only and may differ in reality. It is expressly stated that this information does not constitute an offer or quotation.
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