Hansteen has made its first acquisition in Belgium for a total of EUR 54 mln. The assets extend over 14 different sites throughout the country. The largest, a fully refurbished industrial building near Naninne in the centre of Belgium comprises 7,125 m[sup]2[/sup] of office and warehouse space. Over half of the property is located in or near Brussels.

Hansteen has made its first acquisition in Belgium for a total of EUR 54 mln. The assets extend over 14 different sites throughout the country. The largest, a fully refurbished industrial building near Naninne in the centre of Belgium comprises 7,125 m2 of office and warehouse space. Over half of the property is located in or near Brussels.

The London-listed investor in Continental Europe is also expanding its German portfolio. Four new properties have been acquired, with a total value of EUR 27 mln. They include a 6,600 m2 retail warehouse in Weiterstadt, an affluent suburb of Frankfurt, generating a current income of EUR 546,000 a year. Hansteen’s other German acquisitions are multi-let industrial buildings in the Ruhr area, an office and warehouse building in Hanau near Frankfurt and a two-storey warehouse near Darmstadt.

Ian Watson, joint CEO of Hansteen said: 'We are very pleased to have made our first acquisition in Belgium and to have continued to grow our portfolios in the Netherlands and Germany.'

Properties totalling EUR 33mln have been acquired in the Netherlands. Last week PropertyEU reported that Hansteen Ormix, Hansteen's Dutch joint venture, acquired two modern high specification logistic buildings in Tilburg totalling 38,000 m2. The first building comprises 13,000 m2 and is fully let to UPS SCS. The second building comprising 25,000 m2 is fully let to Haans a company specialising in natural products from Asia and Europe such as furnishing and decorative accessories. The annual rent from the two buildings is approximately EUR 2 mln per annum.

Hansteen has also acquired a modern industrial manufacturing and storage facility built in 2003 and located in Winterswijk. It comprises warehouse and office accommodation and is let to BWI Beheer until 30 April 2019. The annual indexed rent is EUR 400,000.