Hansteen remains upbeat

PROPERTY investor Hansteen Holdings said yesterday it had started to benefit from the casualties of the weak property market over the first half of the year, during which it acquired over £350m worth of assets to add to its portfolio.

Hansteen said it had doubled its annualised rent roll to £63.4m, up from £36m last year, on the back of buying a German industrial property portfolio for €330m (£283.6m) and the Kilmartin portfolio in the UK for £80.4m.

“Despite the economic uncertainty which looks set to continue for some time, the board remains confident about the outlook for industrial property as a first class investment medium,” Hansteen said, adding that it expects investment opportunities will “continue to present themselves”.