SEB Asset Management has sold a logistics property in Doncaster in the UK’s South Yorkshire country to a local real estate fund for £60 mln (€75.2 mln).
SEB Asset Management has sold a logistics property in Doncaster in the UK’s South Yorkshire country to a local real estate fund for £60 mln (€75.2 mln).
The proceeds from the sale are almost 30% higher than the price SEB AM paid for the asset in 2008, when it acquired it for its SEB ImmoPortfolio Target Return Fund from a private investor group for £47.2 mln.
The building has leasable space of around 70,000 m2 and is fully let to UK clothing chain Next Group. The lease runs until March 2023
Doncaster is located in the heart of South Yorkshire and is a strategic location due to its proximity to Robin Hood airport and Humber Port as well as offering direct access to the A1 and M18 motorways.