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Hansteen recently acquired Zeppelin Park, a 160 hectare industrial park located in western Berlin, for €11.3m. The park contains 40,134 square metres of logistics and light industrial space in 19 buildings let to 26 tenants, with a current vacancy of approximately 17%. The passing rent is €1.7m per annum and the target rent when fully occupied will be €2m per annum. Capital expenditure cost of about €3m is expected to be required to achieve the target rent.
Hansteen has purchased a portfolio of industrial estates for 60m pounds from The Industrial Trust. The investor in UK and continental European real estates will use existing cash resources and debt via a new facility with Royal Bank of Scotland to pay for the portfolio which includes 32 estates - a total of 1.6m square feet across the UK. It has an rent roll of £6.7m per year. The acquisition, which is due to be completed on January 31st, will show a net initial yield of 10.1%. Mark Ovens of Hansteen, said: "The portfolio is highly compatible with our intensive management approach and the team's experience across the UK. It has strong fundamentals with a great opportunity to add value through improving occupancy and imposing our management approach via our network of regionally based asset managers."
Mark Ovens of Hansteen, said: "The portfolio is highly compatible with our intensive management approach and the team's experience across the UK. It has strong fundamentals with a great opportunity to add value through improving occupancy and imposing our management approach via our network of regionally based asset managers." Hansteen recently acquired Zeppelin Park, a 160 hectare industrial park located in western Berlin, for €11.3m. The park contains 40,134 square metres of logistics and light industrial space in 19 buildings let to 26 tenants, with a current vacancy of approximately 17%. The passing rent is €1.7m per annum and the target rent when fully occupied will be €2m per annum. Capital expenditure cost of about €3m is expected to be required to achieve the target rent.
Hansteen has purchased a portfolio of industrial estates for 60m pounds from The Industrial Trust. The investor in UK and continental European real estates will use existing cash resources and debt via a new facility with Royal Bank of Scotland to pay for the portfolio which includes 32 estates - a total of 1.6m square feet across the UK. It has an rent roll of £6.7m per year. The acquisition, which is due to be completed on January 31st, will show a net initial yield of 10.1%.
Hansteen have bought the Industrial Trust comprising 32 estates £60m regionally diversified showing a running yield of 10% Typical purchase ,formerly Industrial Ownership who were a forerunner of Ashtene buying similar stock to Asthnne (Hansteen bosses former vehicle) Great purchase fits in well with their regional offce asset management .in addition they have acquired a large European Estate
Industrial property specialist Hansteen's key indicators have all been heading in the right direction in the second half of the year. Cash flow has been strong, with normalised income profit continuing to grow in line with the board's expectations, while absolute and like-for-like occupancy and rental income on the wholly owned portfolio have all improved. The group said the industrial property market is starting to unclog, particularly in Germany, enabling the group to get shot of 13 properties in the second half of 2012, raising £17.8m. That money and more has been recycled into £26.4m of property acquisitions with a combined annual rent of £2.4m. So far, these acquisitions are performing in-line with, or better than, Hansteen's projections at the time of acquisition. In addition, the group has committed £13.6m to two substantial pre-let developments in Germany which will, on completion, produce running yields of around 10%, from strong tenants on long leases. "We are seeing an increasing number of interesting acquisition opportunities in all of our core regions. Acquisition opportunities in this market take a long time to conclude and are often complex but there has recently been a noticeable increase in such discussions in all of our geographic regions and in several situations we are in detailed due diligence albeit this is no guarantee that a deal will be consummated," the company's interim management statement said. "The portfolio and the business should continue to generate high and growing returns over the next few years which is expected to manifest itself in a progressive, but prudent, dividend distribution," the company added.
Hansteen have been wheeling and dealing in Germany selling a few buying others all showing running yields of 10% plus and taking profits on the sales.Euro hit already absorbed so any improvement in that direction can only benefit Dont you just love these boys only concern is their Benelux portfolio where the conomy is hitting the buffers
All a bit quiet here since going ex div.Probably an ideal time to slip in for some more with the slight retrace I suspect we will be hearing very soon of some further astute purchases by the shed shifters extrodinaire
Hi, topped up this morning at 76.5 well worth it at that price .
Hansteen just about to go ex-div. Have you come across M7 who seem to be trawling the same fields as Hansteen thet recently acquired Kevin Stevens Lear Group similar lots to Hansteen I had a look atr SEGRO beacuse of their divis but disagree with their strategy of selling their regional sheds they ebevn provided some rent guarantees on empty space to shift stock crazy especially asSlough Estates made a lot of their money outside the M25 One share I have bought is Conygar ex MEPCc boys bought 2 portfolios last 18 months at depressed prices and have 3 large port related developments in W Wales plus a site in Haverfordwest where they have agreed terms with Sainsburys as a pump primer subject to planning Share price large discount to NAV
Hi, yes slops results, quality lots sold well mind, cef lots went mental, nice lot in Avonmouth went well. Rbs move might put a bit more much needed stock on the market. Veiwed a report saying there is a lack of supply in industrial market now, i tend to agree, imagine the effect on rents when economy picks up. Terrace hill looks interesting , however long term prefer these chaps.
Appleby Did you see the allsops results this week cash is king at the moment Bargain basements industrial half decent building and tenant in the valleys 26% another half decent office building over 20% Bank money isnt there at all everything is 10% plus and with RBS exiting the toxic debt scheme means a lot more mothballed product will be hitting the market crazy times
Hansteen are casting their eye over a few opportunities and it wont be long before they have a pop at the £500 m Ashtenne portfolio owned by the beleaguered Warner Estates.The portfolio originally assembled by the 2 joint chief honchos of Hansteen and sold to Warners at peak of market The fact that they have opened a numberof regional offices spellsout to me that they are expecting to increase their asset base which will involve further management Just bought some Terrace Hill who have a pipeline of foodsores which dont require much front end funding just a matter of planning lining up the food operater and bumper profit if it all ticks They have 10 on the go Chairman vastly experienced thn a numberof property cycles and hasmade all the right moves They must have acoupleof good sitefinders on board as well They have managed the downturn well this could go anywhere
Upped my shareholding today, sold a big resi scheme, long term hold.
Repiled to you on Belvy.Winco has been a naughty boy selling 900k worth of shares when in the listing he promised not to sell within 12 months big buyerstoday in Hansteen fundmanagers returning from hols pressing buy buton no doubt
Did you ever get to look at the tech's I told you about those and this beaut are all doing real well lately, Tef of course is jogging along nicely too. One of my tech shares is up for two aim awards which should help them on the way up. Cheers Barrers
Industrial property specialist, Hansteen Holdings, has been busy buying up assets in both the UK and Germany. The group has spent £26.2m on the 26 acre Horndon Industrial Park in Essex and notarised three other industrial properties in Germany. The Horndon acquisition, which has come via the administrators of defunct outfit Easter Investments Three, is currently let to 43 tenants and has a vacancy rate of 32.94%. The German properties in Uhingen, Grevenbroich and Henstedt-Ulzburg, totalling over 271,000 square feet, are fully occupied and are being sold by Cambridge Place Investments. The combined rent roll of the purchases will be £2.7m. The group has also sold two properties in Germany for a total of €9.4m. Commenting on the Horndon acquisition Morgan Jones of Hansteen, said: "The high yield and vacancy rate, combined with its excellent location provides plenty of opportunity to build value through active asset management."
As you say randy steady rather than dull or boring .Moving along sweetly i understand they have a couple of interesting portfolios in so licitors hands Our friend Appleby will confirm industrial property is the flavour of the month as investors are fighting shy of retail and offices i have sold some today purely to balanceup the portfolio as they have been around 45%
Goes Ex divi 24th Sept I ink rec date is 26th. This is a fairley dull share, often relatively flat price movements in comparison to other companies Iv been looking at but boring is beautiful for me and this is my 4th largest holding. Nice and steady suites my portfolio and this fits the bill perfectly.
Back in uk, my shares up 5p each and bit of divy to boot, just shows buy leave in draw has it merits, will carry on holding this one has miles to go yet
A November interim dividend of 1.8p per share has been recommended, up 13% from the same time last year. Hambro added: "We have further cash resources and are seeing increasing opportunities in all of our core markets. Identifying and acquiring the truly outstanding opportunities is a difficult and frustrating task; however, we have recently concluded purchases on excellent terms and have a pipeline of further such opportunities, some of which are likely to be converted over the next 6 months."
UK and Continental property investment firm Hansteen reported a sharp rise in half year profit, despite adverse currency movement and, on a like-for-like basis, occupancy, values and rent all improved. Pre-tax profit jumped to £23.7m in the six months ended 30 June 2012 from £16.9m the same time a year earlier. Revenue increased to £40.1m during the period from £31.3m the year earlier. Property valuations increased in both Europe and the UK with overall valuation up 0.8%. The group posted annualised rent roll, excluding HPUT, of £65.7m. Like-for-like occupancy, including HPUT, increased by 1,124 sq m. James Hambro, Chairman, commented: "In the continuing difficult economic environment across Europe, Hansteen's results for the first six months of 2012 were good. Profit and dividends have both increased despite adverse currency movement and, on a like-for-like basis, occupancy, values and rent have all improved."
Another pleasing set of figures European portfolio stabilised profits and rents up and interim divi increased from 1.3p to 1,8p what more do you want Chairman expreessed frustration at lack of opportunities in the marketplace.The reverse side of that is that there are a lot of investors out there keen to buy similar stock pushing prices.Consequence is that Hansteens existing portfolio is becoming more valuable
Hansteen later this month will be posting some figures.Steady as she goes The main Euro hit with its European folio has already been absorbed .Rents kicking in from recent purchases , been a few lettings Im sure it will be alll encouraging news get some in .Must be plenty of fund managers looking at their healthy dividends
Hansteena rea ll about inceasing income underpinned by an excellent industrial property which ahs been acquired during a distressed market The worst has been and gone and an y further voids should be bettered by new lettings.The income stream is showing annual returns of 8.5% plus showing a significant gap over and above borrowing costs Furthermore they are a REIT which means they have to distribute profits to shareholders showing a healthy yield They havee already taken in last years accounts the euro battering for their Benelux and German folios Barrers this is agreat long term but with viisble capital growth and future income streams get some in Also the 2 chief honchos have a major stake in the company Nothing like abit of vested interest ti keep the wheels turning IBarrers I have been an industrial property agent for over 30 years and i like the kit they have bought