Hansteen Holdings has bought €114m of European property.

The AIM-listed company run by Ashtenne founders Ian Wayson and Morgan Jones, has bought properties in Belgium, the Netherlands and Germany, through off market deals and company acquisitions, totalling €114m (£78m).

‘We have €300m more in terms of buying capacity, and think we’re well placed to take advantage of opportunities on the continent,’ Watson said.

‘The fundamentals are still there, and yields are still above the cost of money,’ he said.

The company, which specialises in the secondary industrial market, announced good results for the period to 30 June, with net asset value increasing 8% to 123p a share.