Tritax EuroBox acquires logistics property in Oberhausen for €29.9m

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Tritax EuroBox acquires logistics property in Oberhausen for €29.9m


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 agreementThe 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. Thdevelopment is a brownfield regeneration project, demonstrating the Company’s ESG policy of replacing redundant properties with modern, sustainable, energyefficient 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.