£86.5 million of property disposals

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24 December 2018

Hansteen Holdings PLC

("Hansteen" or the "Company")

£86.5 million of property disposals

Hansteen (LSE:HSTN), the industrial property investor, announces that it has simultaneously exchanged contracts and completed the sale of 22 properties for a cash consideration of £67.9 million to a wholly owned subsidiary of Stenprop Limited. The multi-let portfolio comprises 1.16 million sq ft of space of which 5.8% is vacant and has a contracted rent roll of £4.89 million per annum.

In addition, Hansteen has completed the sale of a further 4 assets in individual transactions for £18.6 million. These assets have a floor area of 205,000 sq ft, include 10.4 acres of land and have a contracted rent roll of £0.9 million per annum.

In total, the sales were at £6.5 million or 8.3% above the 30 June 2018 valuation.

In the short term, the Company plans to use the sale proceeds to reduce the balance on its revolving debt facility.

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