Portfolio update

24 October 2019

HANSTEEN HOLDINGS PLC
("Hansteen" or, the "Company")

Portfolio Update

Hansteen (LSE:HSTN), the urban multi-let industrial property investor, announces that the portfolio has continued to perform strongly in the third quarter of 2019 with the completion of 236 new lettings and lease renewals, an average of 79 transactions per month. This compares to an average of 62 transactions per month in the first half of the year. These Q3 leases will generate £3.3 million of annual contracted rent and were completed at rents that are on average 16.6% ahead of the previous contracted rent (H1 2019: 10.2%) and 7.8% ahead of the 31 December 2018 ERV (H1 2019: 4.7%).

There have been seven individual profitable sales, largely to owner occupiers that have completed since 30 June 2019 for £1.6 million generating profits of £0.25 million over the 31 December 2018 valuation.

Ian Watson and Morgan Jones, Joint Chief Executives of Hansteen, commented: "We have specialised in urban multi-let industrial property for 30 years and we haven't seen such an active occupational market with the pace and depth of rental growth that we are currently enjoying".

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HANSTEEN HOLDINGS PLC

Hansteen Holdings PLC (LSE:HSTN) is an industrial property REIT that invests in properties, across the UK, with high yields, low capital costs and opportunity for value improvement.

Founded by Ian Watson and Morgan Jones, the Company listed on AIM in November 2005 raising £125 million. In 2009, it raised a further £200.8 million by way of a Placing and Open Offer and moved to the Official List, converting to a REIT shortly thereafter. In April 2011, the Company raised a further £150 million by way of a Placing and Open Offer.

In June 2017, the Company sold its German and Dutch portfolios for €1.28 billion and is now predominantly UK based. In November 2017, the Company returned £578 million of capital to its Shareholders and in May 2018, a further £145 million was returned to Shareholders.

At 30 June 2019, Hansteen had a property portfolio of some 254 assets with a value of £647 million.