Hansteen Holdings has bought Horndon Industrial Park in Essex from administrators to Easter Group.
Hansteen bought the 587,000 Essex estate along with three sheds in Germany for a total of £26.2m – a yield of 10.35%.
KPMG was appointed to the 15 Easter Group-related companies in March.
Horndon Industrial Park, which was owned by Easter Investments, is a 26-acre multi-let estate, let to 43 tenants with a vacancy rate of 32.9%.
Joint chief executive Morgan Jones said: “We are excited about the acquisition of Horndon Industrial Park.
“The high yield and vacancy rate, combined with its excellent location, provides plenty of opportunity to build value through active asset management. This is just the type of acquisition that we expect to see more of over the coming months.”
The company also completed the sale of two sheds in Germany for €9.4m (£7.5m).
nick.whitten@estatesgazette.com
