6th Nov 2014 08:08
LONDON (Alliance News) - FTSE 250-listed property investor Hansteen Holdings PLC on Thursday said it has struck a deal to buy a portfolio of seven multi-let offices and five industrial estates for GBP36.2 million.
Hansteen has made the acquisition on behalf of its Hansteen Industrial Property Unit Trust II.
The portfolio includes seven multi-let offices, primarily in the south east of England, with a passing rent roll of GBP2.6 million per year.
The industrial estates are primarily based in South Wales, with one in Leicestershire. The passing rent roll on those properties is GBP0.7 million.
"Our regional network will incorporate the assets into their respective portfolios and we expect to see early rental performance as a result. As we approach the end of HPUT II's investment period in March 2015, these acquisitions are both timely and accretive," said Hansteen UK Director James Havery.
Hansteen shares were down 0.5% to 104.764 pence at the open on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
HSTN.L