London-listed industrial REIT Hansteen has reported half-year total profits rose by 59% on the same period last year, to £35 mln (€44 mln).
London-listed industrial REIT Hansteen has reported half-year total profits rose by 59% on the same period last year, to £35 mln (€44 mln).
The firm has bought £143 mln of property in the year to date, at an average yield of 11% and vacancy of 19%.
‘Our strategy of substantially growing the portfolio from the low point in the cycle is beginning to realise its promise,’ said Chairman James Hambro.
‘Market conditions have undoubtedly become more competitive as investors begin to recognise that regional industrial property is likely to produce superior returns in the medium term. Despite the increased competition, our creative approach to acquiring property is still presenting openings.’
