Hansteen has sold its Hansteen UK Industrial Property Unit Trust II for £192.1m to a fund advised by Brockton Capital LLP in a partnership with Dunedin Property. The deal adds about £5m to Hansteen’s end December asset value.
They launched the unit trust in May 2013 with £107m investment from them and clients of Aviva Investors. They invested this during 2013/14. When they sold it, the fund owned 76 assets across England, Wales and Scotland with a combined floor area of 3.54m sq ft, a void rate of 11.0 % (390,231 sq ft), a passing rent of £14.3m (£4.54 psf).
HSTN : Hansteen sells Industrial Property Unit Trust