Tritax EuroBox acquires logistics property in Oberhausen for €29.9m

September 10, 2021

Pan-European logistics real estate investor Tritax EuroBox plc has acquired land for the development of a new 23,346 sq m logistics asset in Oberhausen, a prime location in the Rhine-Ruhr region of Germany, for €29.9 million via a forward funding agreement. The development will be undertaken by Verdion, which specialises in European industrial and logistics real estate.

This is London-listed Tritax EuroBox’s eighth German asset, continuing its growth in this key market. The development is a brownfield regeneration project, demonstrating the Company’s ESG policy of replacing redundant properties with modern, sustainable, energy–efficient buildings with significantly improved environmental credentials. The acquisition price of €29.9 million reflects a net initial yield of 4.3% based on the income from the rental guarantee.

James Graham

James Graham is an award-winning transport media journalist with a long background in the commercial freight sector, including commercial aviation and the aviation supply chain. He was the initial Air Cargo Week journalist and retuned later for a stint as editor. He continues his association as editor of the monthly supplements. He has reported for the newspaper from global locations as well as the UK.