trending Market Intelligence /marketintelligence/en/news-insights/trending/CarwV9U--s9pm6lg8n2SdQ2 content esgSubNav
In This List

Hansteen sells estate to UK government under compulsory purchase order

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Hansteen sells estate to UK government under compulsory purchase order

U.K. based industrial property investor Hansteen Holdings PLC said the Secretary of State for Transport has acquired the Saltley Business Park in Birmingham, U.K., from a subsidiary of the company through a compulsory purchase order under the High Speed Rail Act 2017.

The sale will make way for the construction of the first phase of the HS2 route.

On behalf of the buyer, High Speed Two (HS2) Ltd. will make a down payment of roughly £37 million, while a mutual valuation process for the property is underway to determine its market value.

The industrial estate totals roughly 1.08 billion square feet in 22 units over roughly 47 acres and is located on the eastern edge of Birmingham City Centre.

Hansteen plans to use the initial proceeds to reduce the balance on its revolving debt facility.