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LONDON (Alliance News) - Aberdeen Standard European Logistics Income PLC said Monday that it has signed an agreement to acquire a freehold logistics warehouse in Ede, Netherlands, for EUR26.5 million from David Hart Group.
The investment fund also said it has signed a lease agreement for the warehouse with Dutch retail and pharmacy operator Kruidvat, which commenced on August 1, for a period of 10 years. The estimated gross yield on the property is 6.3%.
The warehouse is located on the Heestereng Business Park, a large mixed use site encompassing logistics, wholesale and production companies.
"We are extremely pleased to have signed this latest purchase agreement for this logistics asset, which is located in a central position in the Netherlands. This property will generate a strong, sustainable and indexed income stream thanks to the quality of the location, the modern specifications of the asset and the long-term lease," Evert Castelein, the company's fund manager, said.
Shares in Aberdeen Standard European Logistics Income were down 0.2% at 107.50 pence each.