High Tech Campus sold by Philips for EUR 425m

Dutch electronics group Philips has sold its High Tech Campus in the city of Eindhoven to a consortium led by private investor Marcel Boekhoorn for EUR 425 mln, the two parties confirmed last Thursday. The deal is the biggest single-asset property transaction ever to be closed in the Netherlands.

The High Tech Campus consists of a developed site covering some 246,000 m2 as well as 130,000 m2 of potential office and R&D space.

The campus houses around 90 businesses which together employ some 8,000 researchers, developers and entrepreneurs. The companies are primarily active in the areas of high-tech and embedded systems, life sciences and infotainment.

Commenting on the deal, Boekhoorn said: ‘When Philips announced its intention to sell the buildings and part of the Campus infrastructure, we were immediately interested. The Campus houses a number of excellent companies such as Philips, NXP, IBM, Atos and several leading knowledge institutions.This acquisition was a once-in-a-lifetime opportunity. The deal is a logical step in our strategy to continue to invest in innovative businesses.’

Now Philips is not owning the propoerty anymore, the door is open to other large IT/CE/Electronics companies to open an R&D center.