Key facts
Location: Peine, Hannover, Germany
Acquisition price: €81.6 million
Net initial yield: 4.8% on the corporate acquisition
GIA: 92,545 sqm
Eaves height: 10.5 metres
Lease expiry: unexpired lease term of 11 years from PC
Acquisition date: October 2018
Further information
- A brand new, well specified, purpose-built asset is in an established logistics location with excellent road, motorway and railway connectivity. Located close to Hannover and Brunswick, on the A2 motorway, which crosses Germany linking Berlin to the Rhine/Ruhr region.
- The area benefits from excellent logistics links and continues to see high occupier demand, a low vacancy rate and limited availability both of logistics buildings and land for development.
- The property benefits from cross-docking with significant yard area and parking. The site cover is approximately 48%.
- This acquisition is the first for the Company arising from its relationship with Dietz AG, (“Dietz”) where the Company uses Dietz as asset manager in Germany and also has access to the Dietz development pipeline.
For related information see Our Properties and Portfolio Summary