Road to Value BV
Drie Gebroeders 15
2342 CL Oegstgeest
The Netherlands

Spaces

Situation

There is an emerging need for more creative office space to cater for smaller innovative enterprises, and also to provide a more welcoming environment to professionals who see a blurring boundary between home and work. There is however a contrast with the existing practises in the real estate office market, where real estate owners are relatively conservative and primarily interested in bulk & long term rental contracts. The challenge at hand was to redevelop a 6.000 m2 property at the Herengracht in Amsterdam as a multi tenant office building and establish a pilot business model that can be expanded into a chain based on a clear offering and the appealing brand called "Spaces".

Task

While working for KRC Capital BV, a private equity fund focused on leisure, real estate and fashion segments, Christian Rood as founder of Road to Value was engaged as a member of the entrepreneur team and worked to realise the venture from a financial and legal perspective.

Action

- Operationalization of business plan and designs
- Developed financial model (construction budget, operational profit & loss projections, propco / opco allocation, liquidity overview, valuation)
- Contracting with local government (permits), existing tenant, construction companies, key suppliers, new tenants, bank
- Financial administration

Result

The opening of award winning multitenant building Spaces at Herengracht in Amsterdam in 2008. Spaces Herengracht operates very well in all areas (offices, independent worker places, meeting rooms, food & beverage, events). New Spaces locations include Amsterdam Zuid-as, Rotterdam (2012) and the Hague (2012).