Weekly data sheet: Northern European markets break more records and UK buyers bag bargains

The Netherlands, Belgium and Nordic countries saw record-breaking transactions while in the UK, buyers picked up former trophy assets.

Union Investment bought Brussels’ Astro Tower, let to a government agency on a long lease, in the largest deal in Belgium this year. Patrizia advised the Korean sellers.

Patrizia also bought this week, acquiring the largest logistics asset ever developed in one of the top European distribution distribution markets.  Smartlog Maasvlakte distribution centre at Rotterdam’s port will have 233,000 m2 of space and 46,000 solar panels alone.

Following the largest-ever deal in Norway, of 17 offices, Denmark saw a record sale of residential portfolio BoStad to AP Pension after fierce bidding. We have not listed the Danish transaction, as the price has not been confirmed.

The sale of residential portfolios was a strong 2021 theme and this week Greystar announced a £2.2 bn London JV with ADIA while bulking up with eight build-to-rent assets in and around the UK capital via the acquisition of Fizzy Living.

In Spain, the yield paid by Abrdn’s listed pan-European logistics fund for a portfolio of new urban logisitics properties was just 3.4%

Retail specialist Eurofund marked its arrival in the UK by buying Silverburn shopping centre in Glasgow together with Henderson Park at a 9.3% yield. A former Hammerson trophy asset, Silverburn has over 1 million sq ft of space but is almost a quarter empty.

Brookfield expanded its footprint in Canary Wharf after hanging on to a deal it had first begun negotiating nearly two years ago - and paying a much lower price.

We also track the latest new fund raisings, financings and assets on the market.

Click here to access the data.


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