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Hansteen: Two sales and an acquisition in Germany

Hansteen Holdings has completed the acquisition of Horndon Industrial Park from the Joint Administrators of Easter Investments Three Limited and notarised the purchase of three industrial units in Germany for a total of £26.2 million with a combined rent roll of £2.7 million. The purchases, which are being funded from existing cash resources, reflect an initial yield of around 10.35%. The Company also announces the sales in Germany of its holding at Leinfelden for €7.9 million and Building 110 in Offenburg for €1.5 million.Horndon Industrial Park is a 26 acre multi-let estate comprising 586,848 sq ft (54,520 m²) of older industrial units and yard space, 21,344 sq ft (1,983 m²) of modern industrial units and 19,219 sq ft (1,785 m²)...[…]