Halverton acquires Alte Manufaktur at Viersen and Industrial Park at Neukirchen-Vluyn (DE)

Halverton Real Estate Investment Management has acquired the Alte Manufaktur at Viersen and the industrial park at Hoschenhof/Neukirchen-Vluyn for a total of about €26 million on behalf of HBI funds, a joint venture with the Australian investment bank Babcock & Brown.

The Alte Manufaktur at Viersen is a former cotton spinning mill which was developed into an attractive site for enterprises of the most various industries with much love of details under the slogan "Progressive working in a historic ambience" in the past few years. On around 32,000 m², about 26,000 m² of useful area composed of approx. 19,000 m² of workshop facilities and about 7,000 m² of office premises are available. Although the object is leased out to 97%, Halverton REIM could acquire the Alte Manufaktur with a single net initial yield of almost 9%.

The industrial park at Hoschenhof/Neukirchen-Vluyn even provides a single net initial yield of over 9,6% – with a leased out rate of 97%, too. The 5 warehouse and 2 office buildings with a total of around 44,000 m² of useful area are currently used by 11 tenants. The property disposes of an own railway connection and significant building site reserves. Neukirchen-Vluyn is located only 15 km of Duisburg, Europe's largest inland port.

The vendor of both objects, an institutional property developer, was consulted by Baucon Immobilien Management GmbH, Cologne. The transaction was mediated by Realogis Immobilien GmbH, Munich.

Source: Halverton

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