By David Parsley2018-03-20T07:45:00
Hansteen is set to return £145m of capital to shareholders following the sale of its Industrial Multi Property Portfolio (IMPT) last month.
The group sold IMPT for £116m to Warehouse REIT and believes high levels of demand for industrial property will limited its ability to invest the windfall.
The company said: “As the cash deposits would earn virtually no interest and therefore materially dilute the returns from the business, the board considers that returning capital to the shareholders by means of a reduction and return of capital is in the best interests of all shareholders.”
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