Amsterdam’s Concertgebouw orchestra has bought its own offices and rehearsal rooms in a project costing €14.5m, the Parool said on Wednesday.

The building, overlooking the Museumplein, will house rehearsal rooms, offices and space for events attended by up to 100 people. School classes will also be able to take music lessons on the premises.

The building itself cost €4.5m and has been funded by a loan. The orchestra has also launched a fundraising campaign to generate €10m to carry out the renovation work. It hopes to move into the building in 2018.

‘Members of the orchestra are often not wealthy enough to find appropriate housing close to Amsterdam where they can also study or rehearse. This building meets an enormous need,’ the orchestra said in a statement.