Halverton buys industrial estate in Paderborn for €28.5m (DE)

Halverton Real Estate Investment Management (Halverton REIM) has acquired an industrial estate in Paderborn for its HBI fund. The industrial estate comprises 19 individual properties totalling 57,000 m² floor space and a further 5,900 m² effective external floor space. This is the equivalent to approximately 12 hectare.

The properties are 96% let to 132 local, national and international businesses. The estate comprises a large variety of unit sizes and types, ranging from small office suites, retail accommodation and ancillary warehouse accomodation, to larger light manufacturing / warehouse and distribution facilities. The properties benefit from a flexible design which will prove an advantage for future reletting. Halverton is convinced that the industrial park offers considerable asset management potential.

17 of the separate buildings are located immediately next to each other in Frankfurter Weg / Stettiner Strasse and form an industrial park. The real estate package comprises a further two properties, which are located 5 km south on Halberstädter Strasse. The properties were built between 1950 and 2000. The net initial yield of the entire real estate package amounts to 8.9%.

Paderborner Lagerhaus AG is the vendor and NAI apollo were the advisors for the transaction.

Paderborn in North Rhine-Westphalia has a population of 142,000. The university city is one of Germany's information technology centers and over 280 companies from this field are located here. Paderborn has a varied economic life ranging from small successful companies to well-known global organisations. The A2 (Dusseldorf – Wuppertal) and the A57 (Dutch border – Cologne) have helped the evolution from traditional industrial city to a modern commercial city. Paderborn also benefits from a local airport and good rail links.

Source: Targa

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