Hansteen buys £5.6m of AIF units

FTSE 250 property investment company Hansteen Holdings has acquired a further 12.4m units in the Ashtenne Industrial Fund from Nortrust Nominees Limited for £5.6m in cash.

The acquisition, which reflects a price per unit of 45.49p, represents 2.1% of the units in issue and brings Hansteen’s holding in AIF to 85.6%.

AIF specialises in the ownership and management of industrial estates and other types of business property throughout the UK.

It owns around 11.3 million sq ft of multi-let industrial properties in the UK. At 31 December 2015, its portfolio comprised 2,935 units at 227 individual estates, with an annual rent roll of £34.7m and vacancy of 12%. The gross asset value of the properties was £436.4m.

At 1217 BST, Hansteen shares were up 0.5% to 100.30p.