SEGRO has announced that it has acquired a portfolio of three, fully-let logistics buildings, in the Netherlands, for €92.7m. The portfolio, which has a total of104,000 square metres of space, has been acquired from the private Dutch developer, Dok Vast. The company says that the purchase price equates to a net initial yield of 6.1 per cent for a combined weighted average lease term of five years to first break.
Two of the buildings, which together account for 95,400 square metres, are less than three years old and are let to Nokia Solutions and Networks OY and to Tesla Motors Netherlands BV. They are located in Tilburg, which the SEGRO says is a prime logistics location in the Netherlands, in their view, due to its inland port. The remaining building, which comprises 8,600 square metres, is located in ‘s-Hertogenbosch, an established industrial and logistics location. The acquisition is in line with SEGRO’s strategy to build scale in modern, big box warehouses in core logistics locations in the UK and Continental Europe.
SEGRO acquires three fully-let logistics buildings for €92.7m : SGRO