Industrial property specialist, Hansteen Holdings, has been busy buying up assets in both the UK and Germany.
The group has spent £26.2m on the 26 acre Horndon Industrial Park in Essex and notarised three other industrial properties in Germany.
The Horndon acquisition, which has come via the administrators of defunct outfit Easter Investments Three, is currently let to 43 tenants and has a vacancy rate of 32.94%.
Subscribe to 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 German properties in Uhingen, Grevenbroich and Henstedt-Ulzburg, totalling over 271,000 square feet, are fully occupied and are being sold by Cambridge Place Investments.
The combined rent roll of the purchases will be £2.7m.
The group has also sold two properties in Germany for a total of €9.4m.
Commenting on the Horndon acquisition Morgan Jones of Hansteen, said: "The high yield and vacancy rate, combined with its excellent location provides plenty of opportunity to build value through active asset management."
BS
-
Cash in on the growth prospects of Europe's companiesOpinion Marcel Stötzel, co-portfolio manager of the Fidelity European Trust, selects three stocks
-
Is the AI boom another dotcom bubble?25 years on from the dotcom bubble bursting, is it time for investors to consider the sustainability of the AI boom in the stock market?
