25th Apr 2016 11:21
LONDON (Alliance News) - FTSE 250-listed real estate investment trust Hansteen Holdings PLC on Monday said it has purchased a further 12.4 million units in the Ashtenne Industrial Fund, increasing its holding in the fund to 86%.
Hansteen said it bought the units for GBP5.6 million in cash from Nortrust Nominees Ltd, reflecting a price of 45.49 pence per unit. The units purchased on Monday represent 2.1% of the units in issue, Hansteen said.
Ashtenne Industrial Fund owns around 11.3 million square feet of multi-let industrial properties in the UK.
At December 31, Ashtenne Industrial Fund had a portfolio consisting of 2,935 units at 277 estates, with an annual rent roll of GBP34.7 million and vacancy of 12%. The gross asset value of the properties was GBP436.4 million.
Shares in Hansteen were up 0.5% at 100.34p on Monday.
By Hannah Boland; [email protected]; @Hannaheboland
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