We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Hansteen Holdings Plc | LSE:HSTN | London | Ordinary Share | GB00B0PPFY88 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 116.20 | 116.20 | 116.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMHSTN
RNS Number : 3082X
Hansteen Holdings plc
29 April 2019
29 April 2019
HANSTEEN HOLDINGS PLC
("Hansteen" or, the "Company")
Portfolio Update
Hansteen (LSE:HSTN), the urban multi-let industrial property investor, announces that the portfolio has continued to perform strongly in the first quarter of 2019 with the completion of 201 new lettings and lease renewals at an average contracted rent of GBP4.56 per sq ft. This compares with an average contracted rent on the total portfolio at 31 December 2018 of GBP4.03 per let sq ft.
There have been eight profitable sales completed in 2019 at an average yield of 3.4% for a combined consideration of GBP19.5 million. Included in these sales were three properties purchased for GBP7.6 million as part of the Cygnet portfolio in August 2018 which have been sold for GBP10.6 million. In total these eight sales have generated profits of GBP4.8 million over gross acquisition cost and GBP1.6 million over 31 December 2018 valuation.
Four of the eight sales account for GBP17.2 million of the consideration and these properties are located at:
- Chequers Lane, Derby, DE21 6AW - 40,805 sq ft
- Bayton Road Industrial Estate, Bayton Road / Colliery Lane, Bedworth, CV7 9NW - 71,500 sq ft
- Edge Lane Business Park, Edge Lane, Manchester, M11 1DG - 171,163 sq ft - Land at Lankro Way, Eccles, M30 0L- 14 acres
Morgan Jones and Ian Watson, Joint Chief Executives of Hansteen, commented: "We remain cautious about the current macroeconomic and political risks, but we have not seen any negative impact on our occupational or investment markets so far in 2019. The pace of activity by our regional asset management team has continued with over 200 lease events at headline rents that are in excess of the portfolio average and we have been able to continue selling individual assets at good prices".
Enquiries:
Hansteen Holdings PLC Morgan Jones Tel: +44 (0) 20 7408 7000 Ian Watson www.hansteen.co.uk Tavistock Jeremy Carey Tel: +44 (0) 20 7920 3150 Charlotte Dale jeremy.carey@tavistock.co.uk
Notes to Editors:
HANSTEEN HOLDINGS PLC
Hansteen Holdings PLC (LSE:HSTN) is an industrial property REIT that invests in properties, across the UK, with high yields, low capital costs and opportunity for value improvement.
Founded by Morgan Jones and Ian Watson, the Company listed on AIM in November 2005 raising GBP125 million. In 2009, it raised a further GBP200.8 million by way of a Placing and Open Offer and moved to the Official List, converting to a REIT shortly thereafter. In April 2011, the Company raised a further GBP150 million by way of a Placing and Open Offer.
In June 2017, the Company sold its German and Dutch portfolios for EUR1.28 billion and is now predominantly UK based. In November 2017, the Company returned GBP578 million of capital to its Shareholders and in May 2018, a further GBP145 million was returned to Shareholders.
At 31 December 2018, Hansteen had a property portfolio of some 256 assets with a value of GBP650 million.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
PFULLFLRSLIRFIA
(END) Dow Jones Newswires
April 29, 2019 02:02 ET (06:02 GMT)
1 Year Hansteen Chart |
1 Month Hansteen Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions