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(Alliance News) - Tritax Eurobox PLC said Monday it has acquired a logistics property in Breda, the Netherlands for EUR50.3 million reflecting a net initial yield of 4.6%.
The property has a gross internal area of 46,185 square metres and is divided into four units, two of which totalling 20,415 square metres are leased to surgical instruments distributor Abbott Logistics BV on a ten-year term.
Tritax Eurobox said there is the potential to add value through the letting of the two vacant units, which have a combined gross internal area of 25,857 square metres.
"We are delighted to announce the eleventh investment for Tritax EuroBox, and our first acquisition in the Netherlands. This newly developed, high specification sustainable asset is situated in Breda, a prime logistics location, which benefits from excellent transport connectivity and a robust labour market," said Fund Manager Nick Preston.
Shares in London-based Tritax Eurobox were up 0.2% at 94.22 pence on Monday.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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