Edmond de Rothschild REIM has acquired an industrial property at Rutherfordweg 75 in Utrecht, Netherlands, for the Edmond de Rothschild Euro Industrial Real Estate Fund. The vendor is a private investor. The parties have agreed not to disclose the purchase price. The complex comprises three warehouses, whereby one has been converted into a double storey building to provide a showroom and offices. The lettable area of the asset totals around 2,100m² on a plot of land of around 11,000m².The property is occupied on a long lease to a manufacturer and wholesaler of brick paving, ceramic tiles, garden sheds, garden timber, synthetic turf and other garden products.
René de Heus, Head of Investment Benelux at Edmond de Rothschild REIM: “This purchase is a further systematic implementation of our fund strategy of acquiring light industrial properties in densely-built urban locations where we anticipate on rental growth and a possible redevelopment on this particular location. The acquisition in Utrecht means that the fund’s portfolio now comprises 15 properties. Further property acquisitions are already under consideration."