Hansteen has sold eleven UK assets from the Ashtenne Industrial Fund for a combined price of £43.9m, in three separate transactions.
Hansteen has a 36.7% interest in the Ashtenne Industrial Fund (AIF).
The largest asset, Langley Park, which has been sold for £32m, is a 48-acre site in the centre of Chippenham, Wiltshire, comprising approximately 800,000 sq ft of office and industrial space and 19 acres of development land.
The site is occupied by tenants including IXYS, Schneider Electric, Siemens PLCS, and UK Westcode. It generates an annual rental income of £1.9m. Langley Park was bought by Ashtenne in 2004 and is the largest single asset in AIF by both value and rental income.
In a separate transaction, Hansteen has sold a portfolio of nine multi-let industrial estates located in the north east of England with a total area of 334,135 sq ft and an annual rental income of £900,000. The portfolio was sold to Arch, The Northumberland Development Company.
Hansteen has also disposed of Units A-C Townsend Industrial Estate, Dunstable a 50,000 sq ft distribution unit sold with vacant possession to an owner occupier.
Savills acted for Hansteen on the sale of Langley Park.