Atlantic Leaf buys UK industrial property
Real estate company takes a bet on property that services vehicle manufacturing
UK real estate company Atlantic Leaf Properties says it has completed the acquisition of an industrial property, Koito, in Droitwich Spa, UK, from Telereal Droitwich for £11.9m. The company, which has its primary listing on the JSE, said the property “is located in the established business area of Hampton Lovett Industrial Estate, in central England, which also accommodates other large well-known industrial occupiers such as Amazon”. “The acquisition … supports the company’s strategy to further concentrate its investment focus on the industrial sector,” the company said. The property serves as the European headquarters for Koito Europe, a significant supplier to the European automotive industry specialising in the design and manufacture of vehicle lighting equipment. Koito has been manufacturing vehicle components for more than 20 years for customers including Nissan, Suzuki, Toyota and Peugeot. “The remaining lease term of 14.6 years provides sustainable income,” Atlantic Lea...
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