The property is located at Jernholmen 49 in the Municipality of Hvidovre, which is part of the Capital Region of Denmark, just six kilometres west of Copenhagen. The property stands on an 81,000 square metre plot, part of which is covered by development rights enabling new production equivalent to 17,500 square metres of construction area. The three buildings already on the property together make up a lettable area of just over 32,000 square metres. The transaction is taking place as a corporate transaction with an underlying property value of DKK 420 million (EUR 56 million) before deduction of deferred taxes. The seller is Bulk Industrial Real Estate AS.

The existing tenant Scan Logistics offers transport and logistics solutions globally and has operations in a total of 45 countries. Scan Logistics has an 11-year lease, and the estimated net operating surplus is around DKK 22.3 million (EUR 3 million).

“We look forward to good cooperation with our tenant Scan Global Logistics, which is a very well-regarded and expanding logistics player, and thanks to the development rights on the property, Catena is additionally able to offer future opportunities to establish a presence in the attractive Copenhagen region,” says Fredrik Renå, who is Regional Manager South and acting Regional Manager Denmark at Catena.

Catena will complete the acquisition during the current month when the contract is signed.