LONDON (Alliance News) - Aberdeen Standard European Logistics Income PLC said Thursday that it has bought a freehold warehouse development property in Oss, the Netherlands, for EUR15.7 million, providing a net yield of 5.3%.
The investment trust said it has forward funded the development with developer Heembouw Breda BV, with a 5.5% coupon rate. The development will start in November with an expected completion date of July 1, 2019.
The freehold property, located on the Vorstengrafdonk business park in Oss, comprises 10,200 square metres warehouse space with associated mezzanine and office space with 160 parking places.
Aberdeen Standard said Orangeworks Group BV, a company specialising in machinery for the food industry, has agreed a 15 year triple net lease for the property.
Shares in Aberdeen Standard European Logistics were up 1.4% at 107.49 pence each.
Abrdn Euro Log (ASLI)