Since Hansteen was established the Group has painstakingly built a portfolio of around €498 million of properties (€495 million excluding development land) in Germany, the Netherlands, Belgium and France with an annual rent roll of €43.7 million. The portfolio has a diverse spread of tenants, low capital values and rents, a high current yield of over 8.75 per cent. and a reversionary yield of 10 per cent. reflecting the opportunities to add value to a number of the properties. In the last three years the Company has paid annual dividends of 3.0p, 3.2p and 3.2p respectively which were covered from the outset by the Normalised Profit generated by the business. Normalised Profit has grown in those years from £6.3 million in 2006, to £9.6 million in 2007, to £11.8 million in 2008.
European industrial property purchases made  |