Hansteen buys €114m of property in Belgium, the Netherlands and Germany (BE/NL/DE/UK)

Hansteen (AIM: HSTN) has announced its first acquisition in Belgium for €54.3 million together with two further purchases in the Netherlands for €33.2 million and four further purchases in Germany totalling €26.6 million. The total properties acquired amounts to €114 million generating an annual rent of €8.64 million.

Belgium
On 31 August 2007, the Group acquired 14 properties in Belgium with an approximate value of €54,276,000 and a total rent roll of €4 million per annum. The properties, together with related debt, are owned by nine Belgian companies. Hansteen paid €17,870,000 to acquire the equity in the companies.

The 14 properties are as follows:

  • A campus style office building in a business park setting at Louvain-La-Neuve. The building provides 4,624 m² of modern high quality space occupied on a variety of typical Belgian leases producing €560,820 per annum rent from ten tenants.
  • An industrial building located in Kontich providing 5,640 m² of industrial and office space let to Enfa Enveloppen N.V. on a typical Belgian 3/6/9 lease producing €281,280 per annum.
  • A fully refurbished industrial building situated next to the N4 in Naninne only 100 meters from the junction to the E411 highway comprising 7,125 m² of office and warehouse space with a current rent of €353,760 per annum.
  • A modern good quality office building situated on the Leuvensesteenweg not far from Brussels airport and the E40 highway. The building provides 3,750 m² of space and is let until 2011 to IBS N.V at a rent of €687,030.
  • Newly renovated office located on the Rotterdamstraat in Brussels providing 1,490 m² of space fully let to three tenants producing €131,520 per annum.
  • A multi-let industrial building located in the industrial park of Heist-op-den-berg. The property provides 6,275 m² of space and has a current rent of €233,690 per
    annum from four tenants.
  • An industrial unit located near the Brussels ring road at Asse. The building provides approximately 2,000 m² of space and is fully let to Stannah B.V.B.A. on a Belgium 3/6/9 lease until 2014 producing a rent of €123,320 per annum.
  • An office and industrial property situated in Mechelen in Vlaanders. The building provides 2,464 m² of office and warehouse space and is fully let to two tenants until 2010 and 2011 respectively producing a rent of €173,810 per annum.
  • An office and warehouse building situated in Antwerp's periphery close to the motorway A13
    E313, Antwerp airport and the Antwerp ring road. The building provides 2,394 m² of office and warehouse space and is fully let to Cegelec Building Systems N.V. producing a current rent of €234,675 per annum.
  • A warehouse building situated in the north-east of Belgium between Brussels and Antwerp. The
    warehouse provides 5,060 m² of space and is let to two tenants with a current rent of €143,830 per annum.
  • Excelsiorlaan 16, Zaventem. A two-story office property situated in the Keiberg Business Park along the ring road of Brussels close to the airport. The property provides 3,919 m² of space and is fully let to Amec-Spie N.V. until 2013 at a rent of €368,238 per annum.
  • A small warehouse property comprising 650 m² in Namur let until 2020 with a partial break in 2015 to two telecom businesses that use the building as a data centre paying €70,190 per annum.
  • An office and warehouse building located in Anderlecht near the ring road in Brussels west district. The building provides 4,270 m² of office and warehouse space and is currently fully let to two tenants until 2014 and 2009 respectively, producing a total rent of €373,110 of rent per annum.
  • Lozenberg 9, Zaventem. A modern 3-story office building located on the Lozenberg Business Park between the E40 motorway and Brussels airport. The building provides 3,286 m² and is currently fully let to five tenants producing €285,520 per annum.

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