Property group makes second major acquisition

Fri, 07 Jan 2011

Hansteen Property Unit Trust has completed its second major acquisition in recent weeks with the £23 million purchase of Saltley Business Park in Birmingham.

The property firm bought the park - which comprises 22 retail units offering more than one million sq ft of industrial space - from LPA Receivers acting for Lloyds Banking Group.

Late last year, Hansteen also acquired HPUT, on the Cardiff-based Treforest Industrial Estate, from SEGRO for £27.1 million.

Joint chief executive of Hansteen, Ian Watson, said that the two recent acquisitions were ideal properties on which the firm could 'use their expertise in intensive management to add real value.'

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