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European Acquisitions and Industrial Property Portfolio |
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We have a pipeline of acquisition opportunities in different stages of negotiation. We are interested in acquiring industrial units, estates, and portfolios, either in one location or on a Pan European basis.
We have particular expertise with corporate owners including buying difficult vacant properties and complex sale and leaseback's. |
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First Transaction: Netherlands |
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In the first transaction, Hansteen acquired six properties across the Netherlands, totalling 45,300 m2 (487,605 sq ft) for a gross value of EUR 25.5 million (£17.28 million) and a current yield of 8% net. The properties were acquired from a Dutch private investor.
The properties are located in Deventer (5,700 m2 / 61,354 sq ft); Hoogeveen (6,800 m2 / 73,194 sq ft); Raamsdonksveer (7,000 m2 / 75,347 sq ft); Emmeloord (4,000 m2 / 43,056 sq ft); Dedemsvaart (5,200 m2 / 55,972 sq ft) and Almelo (16,000 m2 / 172,223 sq ft). Some 4,000 m2 (43,056 sq ft) of the properties are vacant but benefiting from rental guarantees.
Tenants: include companies such as Stork Fokker, Alpac International and Pemstar |
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Second Transaction: Netherlands & Germany |
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In the second transaction, Hansteen has acquired three properties in the Netherlands and Germany. With a gross value of EUR 20 million (£13.55 million), the properties have a current rent roll of EUR 1.45 million (£0.98 million), representing a 7.25% yield.
Tenants include the global logistics organisations Excel and Fedex, as well as a Dutch car dealership, A&D Autos BV, Rexel Group, a world leading distributor of electrical parts and supplies. |
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Third Transaction: Netherlands |
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The third acquisition is a portfolio of four distribution units in the Netherlands with a gross value of EUR 18 million (£12.2 million)and a net yield of around 8%.
Tenants include Shell, TPG Post, Murata Electronics and Briggs and Stratton. |
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Fourth Transaction: Germany |
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The fourth purchase is a distribution unit in Heilbronn in Germany with 10 yrs left on the lease to DPD (German Parcels). The rent payable is EUR 853,000 per year and the total acquisition cost is EUR 9.85 million. |
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Fifth Transaction: Netherlands |
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In The Netherlands, it has acquired a portfolio of eight distribution warehouses from DHL at a total cost of approximately €21 million. The 64,000m² (688,832 sq ft) portfolio has a rent role of €2.16 million per annum.
The properties are based in Arnhem (7,873m²/84,740 sq ft), Eindhoven (2,319m²/24,960 sq ft), Hoofddorp (8,921m²/96,000 sq ft), Leeuwarden (7,919 m²/83,000 sq ft), Maastricht (8,414 m²/ 90,000 sq ft), Tiel (12,127 m²/130,000 sq ft and 1,506m²/16,200 sq ft), as well as a vacant warehouse in Venlo (14,945m²/16,085 sq ft).
Also in The Netherlands, Hansteen has acquired two further investments for a total of some €7.3 million (£5 million). In Ede, Hansteen has acquired for €5.5 million (£3.75 million) a 10,800m² (116,250 sq ft) warehouse/distribution centre let to GeoPost Nederland BV, the Dutch arm of one of the largest postal distribution businesses in Europe. It is held on a lease expiring in mid 2011 at a current rent of €465,700 (£319,000) per annum.
In Wezep, near Zwolle, Hansteen has acquired for €1.8 million (£1.2 million), a 3,100m² (33,370 sq ft) building let to Ten Cate, a distributor. It is held on a lease expiring in 2010 at a current rent of €154,770 (£106,000) per annum. |
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Sixth Transaction: Germany |
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in Germany, Hansteen has acquired two logistic properties in Remseck, close to Stuttgart, for a total of €8 million (£5.5 million).
One property comprising 7,330 m² (78,900 sq ft) of modern warehousing divided into ten units with ancillary offices, is let to a variety of tenants including SVK, a publishers, Wiso Logistic and Pomodoro, food wholesalers, on leases running to 2010 and producing a total current income of €490,000 per annum.
The other property is a 3,800 m² (40,000 sq ft) modern warehouse with ancillary offices let to IGE FA Fachorosshandel/Ofterdinger & Sailer GmbH on a lease to December 2009 at a current rent of €281,000 (£191,000). The building is sublet to Thyssen Krupp, which has invested significantly in the property. |
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Seventh Transaction: Scotland |
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In Scotland, Hansteen has acquired a 90-acre site in Gilston near Falkirk, Scotland for £5 million (€7.33 million) from Warner Estate Holdings plc. The site was a part of the Ashtenne portfolio prior to its acquisition by Warner. The site, close to junction 4 of the M9, has planning consent for commercial and residential development. Hansteen is in discussion with the planners to bring forward an exciting development. |
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Eighth Transaction: Germany |
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IIn Wiesbaden, Hansteen has acquired 38 apartment buildings from the municipality of Wiesbaden for €21 million (£14.5 million). The buildings have a total of 392 mainly 2/3 bedroom apartments and 17 commercial units producing a current rental income of €1.4 million (£959,000) per annum with an E.R.V of around €1.8 million per annum.
Wiesbaden, a prosperous city, is the state capital of Hessen and well known as a health resort due to its hot springs. Hansteen will undertake refurbishment and re-letting and subsequently sell some of the properties. It will hold the balance as investments with the expectation of rental growth generated by the improvement in the general economy. |
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Ninth Transaction: France |
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In Bordeaux, Hansteen has acquired a 38,380 sq m (413,000 sq ft) warehouse from Mitsiu the international bottling logistic and packaging group for approximately €10 million.
The acquisition is subject to a leaseback to Mitsiu on an unbroken 12 year lease at a current annual rent of €800,000 (£545,000) per annum. The warehouse is one of the largest wine bottling and storage warehouses in the Bordeaux area and provides Hansteen with an excellent investment. |
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Tenth Transaction: Germany |
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Acquired for €12.3 million (£8.5 million) the Heinrich-Hertz- Park, a business park approximately 20 km south of Frankfurt, in the heart of the Rhine- Main region. The park provides some 7,070 sq m (76,100 sq ft) of offices and 6,570 sq m of service/ storage space in two buildings on a site of 20,000 sq m (5 acres).
It is currently let to ten tenants and produces a rent roll of €1.04 million per annum. Approximately 14% of the space is currently vacant.
Also in Germany, Hansteen has acquired a warehouse investment in Leinfelden- Echterdingen, south of Stuttgart for €8.3 million (£5.75 million). The property provides 12,230 m2 (132,000 sq ft) let to three tenants and producing €745,000 per annum. |
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Eleventh Transaction: Netherlands |
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Hansteen has paid €3.35 million (£2.3 million) for a 1,757 sq m (19,000 sq ft) warehouse building on a 2,500 sq m site in Amersfoort. Some 60% of the building is let to four tenants with a current rent roll of €160,000 per annum, the balance is currently vacant. The property will have a rental value of approximately €310,000 per annum when fully let. |
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Twelfth Transaction: Netherlands |
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Hansteen has acquired a 14,182 sqm (152,653 sq ft) industrial unit in Lochem, near Deventer for €7.4million (£5million) from a private investor. It is let to Eddings, a German stationery company, for €686,480 (£462,186) per annum on a lease expiring in September 2010. Hansteen was represented by Evert Den Outer.
The Company has also acquired a property based in Tiel, west of Arnhem, for €6.8 million (£4.5 million) also from a private investor. The 10,750 sqm (115,712 sq ft) warehouse and office accommodation is let to three individual tenants, generating a total rental income of €593,478 (£399,525) per annum. The largest tenants are Van Huet Glasstransport B.V. and Centraal Boekhuis.
In Hardenberg, east of Zwolle, the Company has acquired, for €4.2 million (£2.8 million,) a 5,107 sqm (54,971 sq ft) site from Schoeller Arca Systems, which is subject to a 15 year leaseback, at an annual rent of €350,000 (£235,631). The property contains two units, the first of which is a basic storage warehouse, and the second a research and recycling centre with mezzanine offices. In addition, the site includes approximately 2 hectares (4.9 acres) of storage land.
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Thirteenth Transaction: France |
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Hansteen purchased a site containing two logistics warehouses of 16,270 sqm (175,128 sq ft) and 5,730 sqm (61,677 sq ft) in Saint Priest, Lyon for €9.5million (£6.4million). The buildings are let to Venditelli Transport and Jura Transport on leases expiring in 2013. The properties are strategically located in a key industrial / distribution district of Lyon and provide a total annual rent of €805,000 (£541,901). |
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Fourteenth Transaction: Germany |
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Hansteen has purchased three properties. The first is an 89,000 sqm (957,988 sq ft) industrial site on the outskirts of Otigheim, a city in Baden-Württemberg, bought for €9.1 million (£6.1 million). The property comprises three warehouse buildings covering an area of 13,718 sqm (147,659 sq ft), on a total land plot of 89,000 sqm (957,988 sq ft), which gives a development ratio of 15.4% buildings to land.
The entire property was purchased from Herbstreith & Fox, a producer of pectin for the food and non food industry, and has been leased back for a period of eight years at a rental of €770,000 (£518,403) per annum.
The second and third properties were purchased for €7.5 million (£5 million) and comprise two logistic warehouses based in Rodgau and Mulheim in the Rhein Main area. The unit in Rodgau is an 8,531sqm (91,826 sq ft) logistics facility with ancillary offices let to Kuhne & Nagel, an international logistics operator. In Mulheim the 5,045 sqm (54,303 sq ft) warehouse and ancillary offices and is let to Alibert Transport GmbH, on a lease expiring in December 2010. The total rent for these buildings is €656,595 (£442,123) per annum. |
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Fifteenth Transaction: Germany |
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Hansteen has purchased two portfolios, the Lichdi (partly completed) and the Engler portfolio.
The Engler portfolio comprises four properties covering 39,852 sq m (130,748 sq ft) within the Ruhr region. The predominantly industrial portfolio has been purchased for €14.1 million (£9.5 million) and generates a total rent of €1.32 million (£0.89 million) per annum.
The portfolio consists of an office building in Essen with predominantly short term leases, two large industrial buildings in Herne, a large multi-let industrial estate in Gelsenkirchen with lease lengths between 2008 and 2017 and a mixed use building in Gelsenkirchen high street with a Plus supermarket on the ground floor let until 2010 and residential flats above with lease lengths between 2007 and 2017.
In Dresden, the Company has also acquired an office building for €10 million (£6.7 million). The 7,988 sq m property is let to the Customs office with a current rent of €711,483 (£478,726) per annum. There are 8.5 years outstanding on the lease. |
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Comment |
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Our acquisitions are in line with our strategy: income producing, high yielding properties let to good tenants. |
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Deventer |
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Emmeloord |
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Wiesbaden |
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Bordeaux |
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Frankfurt |
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