Hansteen Takes Full Ownership Of Saltley Unit Trust

LONDON (Alliance News) - Hansteen Holdings PLC on Monday said it has taken full ownership of the Saltley Unit Trust, the owner of a multi-let industrial estate in Birmingham, after acquiring the remaining 50% of the units it didn't already own from a fund advised by Brockton Capital LLP in a partnership with Dunedin Property.

The net price of the acquisition was GBP9.3 million, the property investment company said, adding that the multi-let industrial estate had an annual rent roll of GBP2.9 million and vacancy rate of just 2.0% on June 30, 2015.

Shares in Hansteen were down 0.9% at 110.00 pence on Monday.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

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