HSTN.L Regulatory News (HSTN)

27 Jul 2006 07:03

Hansteen Holdings plc27 July 2006 27 July 2006 HANSTEEN ACQUIRE £16.2 MILLION OF INVESTMENTS IN THE NETHERLANDS AND GERMANY Hansteen Holdings plc ("Hansteen") (AIM: HSTN), investors in continentalEuropean real estate, announces today that it has acquired a further threeinvestments in Germany and The Netherlands for some €23.75 million (£16.18million). In Germany, Hansteen has acquired for €12.2 million (£8.3 million) theHeinrich-Hertz-Park, a business park approximately 20 km south of Frankfurt, inthe heart of the Rhine- Main region. The park provides some 7,070 sq m (76,100 sq ft) of offices and 6,570 sq m of service/ storage space in two buildings on a site of 20,000 sq m(5 acres). It is currently let to ten tenants and producesa rent roll of €1.04 million per annum. Approximately 14% of the space is currently vacant. The vendors, Henderson Global Investors were represented by NAI Apollo and JonesLang LaSalle, and Hansteen were represented by Camilli Veiel Also in Germany, Hansteen has acquired a warehouse investment in Leinfelden-Echterdingen, south of Stuttgart for €8.2 million (£5.6 million). The propertyprovides 12,230 sq m(132,000 sq ft) let to three tenants and producing €775,000per annum. Hansteen were again represented by Camilli Veiel. In The Netherlands, Hansteen has paid €3.35 million (£2.3 million) for a 1,757sq m (19,000 sq ft) warehouse building on a 2,500 sq m site in Amersfoort. Some 60% of the building is let to four tenants with a current rent roll of €160,000per annum, the balance is currently vacant. The property will have a rental value of approximately €310,000 per annum when fully let. Hansteen were represented by Statement. Morgan Jones, joint chief executive of Hansteen, said: "We are very pleased withthe purchases. The Heinrich-Hertz-Park is a very good quality property withsubstantial value upside. The Leinfelden property is in a great location nearStuttgart Airport and the new Fair and the Amersfoort property provides theopportunity to create a multi-let investment in an area we know well." For further information:Ian Watson/Morgan Jones Jeremy Carey/Rachel DrysdaleHansteen Holdings plc Tavistock CommunicationsTel: 020 7016 8820 Tel: 020 7920 3150 Notes to editors:Hansteen Holdings plc is a property company formed by Ian Watson and MorganJones, the founders and former directors of Ashtenne Holdings plc. Hansteenraised £125 million on its flotation on AIM in November 2005, which was 3x oversubscribed. Hansteen focuses on investing in industrial properties in Continental Europe,which have higher yields, cheaper financing costs, and greater opportunity forvalue improvement through asset management than can be achieved currently in theUK. It will also seek to profit from opportunistic acquisitions in otherproperty sectors both in the UK and abroad. The Company made its first acquisitions in December 2005, purchasing circa £50million of industrial/distribution property in the Netherlands and Germany infour separate transactions. Hansteen (AIM: HSTN) has a market capitalisation of around £144 million. This information is provided by RNS The company news service from the London Stock Exchange