Hansteen agrees deals worth more than 40m euros
Hansteen, the FTSE 250 real estate investor, has agreed over 40m euros-worth of investment deals in Germany.
Hansteen, the FTSE 250 real estate investor, has agreed over 40m euros-worth of investment deals in Germany.
The biggest of these is the acquisition of the German assets of the EIP Fund for €24.5m, which was satisfied from existing cash resources. The price reflects an initial yield of 10.6% and the reversionary yield is more than 14%.
Ian Watson, joint Chief Executive of Hansteen, said: "This portfolio provides excellent diversity of income and is compatible with Hansteen's intensive management approach. With its high vacancy rate it presents a number of opportunities to create significant added value through improving occupancy."
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company also agreed five investment sales in Germany for a total of €15.9m. The sales comprise properties in Neckarsulm for €2.75m, in Freising for €2.45 million, in Aschaffenburg for €2.3m, in Weiterstadt to the occupier for €8.05 million and three small residential blocks in Padderborn for €370,000.
Together, the properties have a combined rent roll of €2.6m a year from 32 tenants with 41% (34,917 sq m/375,850 sq ft) vacant. The estimated rental value (ERV) of the portfolio is €3.6m a year.
The share price rose 0.31% to 80.25p by 08:50.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Two thirds of easy access savings accounts come with restrictions – can you access your savings in an emergency?
Out of the top 30 easy access savings on the market, 22 come with some sort of restriction on how fast you can access your money, according to new research.
-
Most popular London boroughs: Full list of in-demand places to move to
A deluge of people move to or within Britain’s capital each year – but which area is the most popular? We look at the most in-demand London boroughs in 2025.