UK REIT Segro has acquired a three-asset logistics portfolio in the Netherlands for almost €93 mln, reflecting a net initial yield of 6.1%.

UK REIT Segro has acquired a three-asset logistics portfolio in the Netherlands for almost €93 mln, reflecting a net initial yield of 6.1%.

The fully let logistics buildings comprise a total of 104,000 m2 and have a combined weighted average lease term of five years to first break. The vendor was private Dutch developer Dok Vast.

Two of the buildings, which together account for 95,400 m2, are less than three years old and are let to Nokia Solutions and Networks and to Tesla Motors Netherlands. They are located in Tilburg, a prime logistics location in the Netherlands due to its inland port.

The remaining building, which comprises 8,600 m2, is located in s-Hertogenbosch (Den Bosch), an established industrial and logistics location.

'The off-market acquisition of these properties is in line with our strategy to build scale in modern, big box warehouses in core logistics locations in the UK and Continental Europe,' said Phil Redding, Segro's chief investment officer. 'Tilburg is a prime logistics market with a shortage of quality supply, low vacancy and strong occupier demand, and should benefit further from future expansion of the port.'

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INVESTMENT BRIEFING

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Outlook 2016: Europe & The Netherlands
Date 4 December 2015
Time 08:00 - 10:30

The fourth year of the successful Outlook series of investment briefings is coming to Amsterdam and will provide insights from leading figures on the investment outlook for real estate markets in both the Netherlands and Europe.

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