Hansteen deal included Greater Manchester sites
JUST two North West industrial estates, rather than the four first announced, were included in Hansteen’s £42.5m acquisition of 17 sites from Legal & General.
These were Park Parade Industrial Estate in Welbeck Street Douth, Ashton-under-Lyne, and Barton Road, Heaton Mersey, Stockport.
Hansteen acquired the properties, referred to as the Spice portfolio, from Legal & General’s Industrial Property Investment Fund.
The portfolio has 137 units totalling 810,700 sq ft. The current passing rent is £3.4m a year which is contracted to rise to £3.7m, and the void rate is 4.7%.
