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Tritax EuroBox PLC - investor in continental European logistics real estate assets - Acquires logistics asset in Gothenburg port in Sweden for EUR47 million. The freehold asset comprises two purpose built logistics facilities. The buildings are currently fully let to tenants and generate a total annual rent of SEK18.04 million, around GBP1.5 million, on leases with an average unexpired lease term of six years.
"We are delighted to acquire our first asset in the Nordics which aligns with our disciplined investment approach and our long term strategic goals," says Tritax EuroBox Fund Manager Nick Preston.
"The asset, held freehold, is located in the region's strongest logistics market, and offers asset management upside through working closely with the occupiers to achieve their business plans and increase rents to market levels.
"We expect to see continued strong market rental growth in the Port of Gothenburg, due to the natural constraint of land supply in the port area, and the increasing demand from occupiers."
Current stock price: 200.91 pence
Year-to-date change: up 20%
By Will Paige; willpaige@alliancenews.com
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