Industrial developer SEGRO has bought a £65m sheds portfolio in the Netherlands from private Dutch developer Dok Vast.
The purchase includes three fully-let sheds totalling around 1.1m sq ft in Tilburg and ‘s-Hertogenbosch – a net initial yield of 6.1%.
The two sheds in Tilburg, which together account for around 1m sq ft, are less than three years old and are let to Nokia Solutions, Networks OY and Tesla Motors Netherlands BV.
The third building in ‘s-Hertogenbosch is around 92,500 sq ft.
Phil Redding, SEGRO’s chief investment officer, said: “The off-market acquisition of these properties is in line with our strategy to build scale in modern, big box warehouses in core logistics locations in the UK and Continental Europe.
“Tilburg is a prime logistics market with a shortage of quality supply, low vacancy and strong occupier demand, and should benefit further from future expansion of the port.”
