HANSTEEN ACQUIRES THE REMAINING 50% OF UNITS IN SALTLEY UNIT TRUST
07 Mar 2016
Hansteen acquires the remaining 50% of units in the Saltley Unit Trust
Hansteen (LSE: HSTN), the UK and Continental European property investment company, announces that it has acquired the remaining 50% of the units in the Saltley Unit Trust taking its ownership to 100%. The units were acquired from a fund advised by Brockton Capital LLP in a partnership with Dunedin Property for a net price of £9.3 million.
The Saltley Unit Trust owns a multi-let industrial estate in Birmingham comprising of over 1 million sq ft. At 30 June 2015, the property had an annual rent roll of £2.9 million and vacancy of 2.0%.
For further information:
Morgan Jones / Ian Watson Jeremy Carey
Hansteen Holdings PLC Tavistock
Tel: 020 7408 7000 Tel: 020 7930 3150
Notes to Editors:
HANSTEEN HOLDINGS PLC
Hansteen Holdings PLC (LSE:HSTN) is a European industrial REIT that invests in properties with high yields, low capital costs and opportunity for value improvement across the Netherlands, Germany, Belgium, France and the UK.
Founded by Morgan Jones and Ian Watson, the Company listed on Aim in November 2005 raising £125 million. In 2009, it raised a further £200.8 million by way of a Placing and Open Offer and moved to the Official List, converting to a REIT shortly thereafter. In April 2011, the Company raised a further £150 million by way of a Placing and Open Offer.
At 30 June 2015, Hansteen had total property under management of some 507 assets with a value of £1.5 billion.