King Sturge advises on sale of portfolio for€57 million to Hansteen Holdings plc (UK/BE)

Park Lane Investments, a real estate holding company of a Belgian private investor, has sold its mixed portfolio to Hansteen Holdings PLC, a UK investor in continental European real estate. This is Hansteen's first acquisition in Belgium.

The portfolio consists of 15 properties in Belgium with a size of approximately 56.518 m². This comprises a mix of light industrial (28.958 m²), high street retail (1.100 m²) and office properties (26.460 m²) with an approximate value of € 57 Mio, which reflects
a yield of approximately 7,3%. The properties, together with related debt, are owned by nine companies.

The 15 properties are as follows:

  • A high-street retail property in Antwerp, near the Meir.
  • A campus style office building in a business park setting in Louvain-La-Neuve, a university city.
  • An industrial building located in Kontich, near the E-19 motorway connecting Brussels to Antwerp.
  • A fully refurbished industrial building situated next to the N4 in Naninne only 100 meters from the junction to the E411 highway.
  • A modern good quality office building situated on the Leuvensesteenweg not far from the Brussels airport and the E-40 highway.
  • Newly renovated office building located on the Rotterdamstraat in Brussels, near the site of Tour & Taxis.
  • A multi-let industrial building located in the industrial park of Heist-op-den-Berg.
  • An industrial unit located near the Brussels' ring road in Asse.
  • An office and industrial property situated in Mechelen, close to the E-19 motorway connecting Brussels to Antwerp.
  • An office and warehouse building situated in Antwerp's periphery close to the motorway E-313, the Antwerp port and ring road.
  • A warehouse building situated in the North-East of Belgium between Brussels and Antwerp.
  • A two storey office property situated in the Keiberg Business Park In Zaventem along the ring road of Brussels and close to the airport.
  • A small warehouse in Namur let to two telecom businesses that use the building as a data centre.
  • An office and warehouse building located in Anderlecht near the ring road in the Brussels' West district.
  • A modern 3-storey office building located in the Lozenberg Business Parkbetween the E40 motorway and the Brussels airport.

King Sturge advised on the sale of this portfolio.

Hansteen Holdings plc is a property company formed by Morgan Jones and Ian Watson, the founders and former directors of Ashtenne Holdings plc. Hansteen focuses on investing in higher-yielding properties in Continental Europe.

Source: King Sturge

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