SEB Asset Management sells logistics property in Doncaster at a profit (UK)

SEB Asset Management has sold a logistics property in Doncaster in South Yorkshire, UK, to a British real estate fund. The new owner successfully bid GBP 60 million (approx. €75 million). The proceeds of the sale are almost 30% higher than the original purchase price and exceed the most recent appraisal value. This means the real estate asset manager is exciting at a significant profit after a holding period of six years.
SEB Asset Management acquired the logistics building in 2008 for GBP 47.2 million (approx. €59 million) from a private investor group for its open-ended real estate fund, SEB ImmoPortfolio Target Return Fund. The building has leasable space of approximately 70,000 m² and is fully let to UK clothing chain Next Group plc. The lease runs until March 2023.
Doncaster is located in the heart of South Yorkshire and is one of the most important logistics centers in the UK thanks to its strategic location and strong transport network. The nearby Robin Hood airport, Humber Port, as well as direct access to the A1 and M18 motorways provide optimal transport links.

Source: SEB Asset Management