Hansteen Holdings has announced that it has acquired a further 5.5 million units in the Ashtenne Industrial Fund from clients of CBRE Investors for £2.5m cash, which reflects a price of 46.06p per unit. The company says that the acquisition represents 0.9% of the units in issue and increases Hansteen’s holding in the Ashtenne Industrial Fund to 82.8%.
According to Hansteen, the Ashtenne Industrial Fund owns some 12 million square feet of multi-let industrial properties in the UK, which at 30 June 2015, consisted of 2,935 units at 237 individual estates, with an annual rent roll of £36.2m and vacancy of 13.5%. The gross asset value of the properties was £439.3m.
Hansteen increases its holding to 82.8% of the Ashtenne Industrial Fund : HSTN