Highlights
- 43,200 sqm building, purchased in
- An asset management initiative undertaken in summer 2022 resulted in a 23.7% increase in total rental income, improved indexation terms, and inclusion of an open market rent review at the end of the 7-year fixed lease term
- Headline sale price of
- Proceeds will be primarily used to pay down the Revolving Credit Facility, as part of the program to reduce the leverage in the Company, as well as providing scope for investment into existing portfolio opportunities
Overview
The 43,153 sqm prime logistics property in Hammersbach,
The disposal of Hammersbach marks an important step in the recently announced sales programme, with a total disposal target of at least
Company commentary
"The completion of this sale supports our strategy of crystallising value and recycling proceeds into reducing leverage and funding existing portfolio opportunities. The sale to a leading pan-European real estate investor, broadly in line with valuation, highlights the attractiveness of the properties in our portfolio, and evidences the continued investor interest and market stabilisation for high-quality logistics assets. This provides us with confidence to complete further disposals as we continue to recycle capital within our business."
Further information
Kekst CNC (Media enquiries)
+44 (0) 7971 578 507 / +44 (0) 7581 056 415
tritax@kekstcnc.com
Notes
Occupier demand for Continental European logistics assets is undergoing major long-term structural change principally driven by the growth of e-commerce. This is evidenced by technological advancements, increased automation, and supply-chain optimisation.
The Company's Manager,
Further information on the Company is available at: tritaxeurobox.co.uk
The Company's LEI is: 213800HK59N7H979QU33.
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