Le Masurier completed the sale of office and laboratory building, HENRI, in Erlangen, Germany to French SCPI, Transitions Europe, managed by Arkéa Real Estate Investment Management, for €12+million. Sienna Investment Managers acted as Investment Manager for Arkéa Real Estate Investment Management. Savills Germany acted for Le Masurier on the Sale.
Le Masurier is one of Jersey’s oldest and largest commercial property companies with property investments located throughout the United Kingdom and Jersey, and this was their remaining German asset. The property has a total gross floor area of 5,180 sq m and was let on a long-term basis to leading international life science company, Sivantos.
Gavin Booth, Head of Group Property, Le Masurier, commented: “This asset has been a successful long-term investment for the Group, and the sale completes our strategic exit from the German market. Having concluded a lease extension in 2023, the asset was attractive to long income buyers and the sale now allows Le Masurier to refocus on UK real estate opportunities, as well as its existing Jersey development portfolio.”
