Teesland iOG has purchased two Swedish investment portfolios on behalf of Scarborough Continental Partners’ warehouse fund for £24m.
The portfolios, sold by NAI Fuller Peiser’s Swedish partner NAI Svefa Makleri, include retail, industrial and offices. The net initial yield was 8.9%.
The first portfolio, comprising five units totalling 388,189 sq ft of retail, warehouse and office space, was sold on behalf of Variant Fastigehets AB, a Swedish investment management firm.
Located in the City of Malmo and Lund Municipality, the commercial centre of Southern Sweden, the portfolio was sold for £13.2m.
The second portfolio, sold on behalf of Swedish property owner and leasing company Lokalbolaget, comprises 220,660 sq ft of retail, warehouse and office space.
This portfolio, located in the Burlov municipality in southern Sweden, sold for £10.85m.
Jane Winfield, head of agency and investment at NAI Fuller Peiser, said: “We have very strong teams throughout Scandinavia and have identified extremely strong demand for stock across the sectors particularly in the commercial southern region of Sweden.”
References: EGi News 01/06/06
