Ashtenne buys Netherlands warehouse for £8m from Hays

Ashtenne Holdings PLC, the property investment and active management company, said it bought a 550,000 square foot logistics warehouse in Amersfoort, near Utrecht, in the Netherlands, for 8 mln stg from Hays PLC.

The acquisition follows the 28 mln stg acquisition of the pan European Rexel portfolio, Ashtenne said.

It said Hays benefits from a joint venture arrangement with Ashtenne whereby it can receive further monies if Ashtenne adds value to the property over the next five years.

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