(Alliance News) - Stenprop Ltd said on Thursday it had made double acquisitions valued at a combined GBP16 million as it ramped up its transition into a multi-let industrial property company.
In two separate transactions, the company bought Whitacre Industrial Park in Huddersfield and a portfolio of five multi-let industrial estates located across the UK for GBP16 million in total, or around ZAR330 million.
Since April, Stenprop has forked out GBP37 million to acquire seven multi-let industrial estates.
"We are confident that adding these MLI assets, in undersupplied regional locations, will enable us to significantly grow the rents over time through the application of our smart lease solution and management platform," said Will Lutton, head of investment at Stenprop.
By Artwell Dlamini; artwelldlamini@alliancenews.com
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