Hansteen buys Dutch and German properties

Industrial specialist Hansteen has bought €47m (£31m) of property in the Netherlands and Germany. The company, run by Ian Watson and Morgan Jones, has bought four properties in The Netherlands for €13.5m (£9.1m) It has bought a 4,540m2 (48,868 sq ft) warehouse in Emmeloord, northwest of Zwolle, as part of a €2.23m sale and leaseback. The property is let to Leisure Life at €180,879 pa (£121,705) pa until January 2016. Hansteen has also bought a 7,619m2 (82,010 sq ft) logistics and warehousing centre in Waalwijk; a 7,201m2 (77,510 sq ft) distribution warehouse in Doetinchem, east of Arnhem; and a 1970s warehouse in Kerkrade, southeastern Netherlands. In Germany, the company has bought a €10m (£6.7m) office building in Dresden plus two portfolios – the 12 –strong Lichdi portfolio and the four-strong Engler portfolio – that cost €23m (£15.4m). Joint chief executive Morgan Jones said: “In our view, these acquisitions represent good value and further purchases are in the pipeline. “In Germany we have been happy to invest in all property sectors where we see particularly good opportunities.” darren.lazarus@egi.co.uk