Catena is acquiring a Danish property in Hvidovre, an investment of c. €56.3m. The seller is Bulk Industrial Real Estate AS, and the tenant is Scan Global Logistics.
The property is located at Jernholmen 49 in the Municipality of Hvidovre, which is part of the Capital Region of Denmark, just six kilometres west of Copenhagen. The property stands on an 81,000m2 plot, part of which is covered by development rights enabling new production equivalent to 17,500m2 of construction area. The three buildings already on the property together make up a lettable area of just over 32,000m2.
The existing tenant Scan Logistics offers transport and logistics solutions globally and has operations in a total of 45 countries. Scan Logistics has an 11-year lease, and the estimated net operating surplus is c. €3.1m.
“We look forward to good cooperation with our tenant Scan Global Logistics, which is a very well-regarded and expanding logistics player, and thanks to the development rights on the property, Catena is additionally able to offer future opportunities to establish a presence in the attractive Copenhagen region,” said Fredrik Rena, who is Regional Manager South and acting Regional Manager Denmark at Catena.
Catena will complete the acquisition during the current month when the contract is signed.
Image source - Cision
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