Henley 360 has completed its fifth mainland European acquisition, with the off market purchase of a 17,400 sq m (187,300 sq ft) light industrial property in Vianen, in the Province of Utrecht, the Netherlands.

The site consists of a mix of light industrial and office facilities within one building, and is the third Dutch asset to be purchased by Henley 360.

Kevin Oppenheim, managing director of Henley 360, says:

“The acquisition represents an opportunity to acquire a predominately vacant asset, ripe for development, in the premium location of De Biezen Business Park, Vianen. The property is ideally suited to take advantage of strong occupier demand following conversion into a modern, mixed-use business park. The condition and configuration of the building will allow for a rapid and economic conversion, while our proven ‘FlexiZone’ concept, will offer a comprehensive range of business space to the local SME market, improving occupancy and rental levels significantly.”

The De Biezen Business Park, together with the nearby estate De Hagen, accounts for 84 per cent of Vianen’s total industrial stock. Vianen, which is located in close proximity to Utrecht, is in a premium regional and national location and has excellent access to Rotterdam and Amsterdam. The property was bought for EUR3.35 million from a private seller.

Ian Rickwood, chief executive officer of Henley Investments, says:

“With its favourable economic performance and the continued occupier demand for light industrial space, the Netherlands remains a highly attractive market for Henley 360 to invest into. The project is a continuation of a highly successful strategy for Henley360, following the acquisition of two similar properties in the Netherlands, with this site offering significant upside rental returns following a proactive programme of asset management. In line with our opportunistic approach to investment, our exit strategy will take advantage of strong investor appetite in the market for well let multi-tenanted buildings, once the asset has been repositioned.”

The deal was introduced through JLL, with legal services provided to Henley 360 by Nauta Dutilh.

Launched by private equity real estate group Henley in March 2014, the business investment strategy focuses on high-yielding, multi-let office and light-industrial properties, including sale and leaseback deals in Northern Europe.

27th March 2017 | Article by Property Funds World

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