Stenprop: Acquires UK MLI Estate, Completes Sales of German Retail Assets
Stenprop, the UK multi-let industrial REIT, announces that it has acquired the Headlands Trading Estate in Swindon for £7.4m. The group has also completed the disposal of the Bikemax portfolio of five German retail warehouse units based on a property value of €27m as well as the sale of the Victoria Centre retail property in Berlin for €37.45m.
The purchase of the Swindon estate means that Stenprop has completed 14 separate UK MLI acquisitions this financial year, with an aggregate purchase price before costs of £91.5m. Following these transaction, the percentage of UK MLI within the Company’s portfolio will rise to over 75%, based on September 2020 valuations.