In this week’s CRE deals round-up, the 63,000 sq. ft. Centro Industrial Estate, in Hemel Hempstead, Hertfordshire, has been bought for £15m by Orchard Street Investment Management. The industrial estate was acquired from DTZi on behalf of St James’s Place Property Unit Trust. The property has a WAULT of 9.5 years.
GERMANY: ATRIUM OFFICE SOLD
Warburg-HIH Invest Real Estate has acquired the ATRIUM OFFICE in Weststadt in Darmstadt from GbR Biskupek, Scheinert, Kolb, Börder. The property on Hilpertstrasse 20a has a gross lettable area of 13,620 sqm and also 330 underground parking spaces. The price has not been disclosed.
FINLAND: SUSTAINABLE OFFICES BOUGHT
Two offices in Tampere, Finland have been bought by Quadoro Investment GmbH. It is the Alternative Investment Fund Manager of the open-ended mutual fund Quadoro Sustainable Real Estate Europe Private (Sustainable Europe). The focus of the investment strategy is on the sustainability of locations and also properties. The buildings, constructed in 1998 and also 2000, are in the Hervanta district and are part of the Hermia technology park
ROMANIA: NEW BUSINESS PARK BEING DEVELOPED
VGP is developing the new VGP Park Arad in West Romania is scheduled to begin opening elements in 2021. CBRE assisted VGP in the ground acquisition by CBRE. The park is near the A1 highway and just 50 km away from Timisoara as well as the Romanian/Hungarian border point (Nadlac). On a 39 hectare plot, VGP Park Arad provides a potential lettable area of up to 200,000 square metres, which is ideal for light industry, automotive pre-assembly operations and as a logistics and distribution/courier hub.
UK: PRACTICAL COMPLETION AT FURLONG PARK
Chancerygate has achieved practical completion for the 94,000 square foot £10.2 million Furlong Business Park at Bishops Cleeve near Cheltenham. Almost one-third of the development’s available units have already been sold. Furlong Business Park, off Hyde Lane, has 11 industrial and also warehousing units from 3,988-25,714 square feet. Having pre-sold a 3,075 sq ft unit to Chipping Norton-based printing company KopyRite Printers last November, Chancerygate pre-sold a further 4,590 square foot unit before the scheme’s completion to Cheltenham-based, D&G Contracting. Cheltenham creative agency Still Moving Media bought a further unit totalling 4,865 square feet days after completion.