Dutch warehouse sales boost abrdn European Logistics’ wind-down

Published 16/07/2025, 09:28
Dutch warehouse sales boost abrdn European Logistics’ wind-down

LONDON - abrdn European Logistics Income plc (ASLI) has sold two warehouses in the Netherlands for €34.7 million as part of its managed wind-down process, the company announced Wednesday.

The sale of properties in Horst and s’ Heerenberg was completed at approximately 3% below their Q1 2025 valuation. The 6,904 square meter Horst facility, built in 2004, is fully leased to agri-business occupier Limax Holdings. The larger s’ Heerenberg warehouse spans 23,610 square meters and is fully occupied by logistics company JCL Logistics.

The debt associated with the s’ Heerenberg asset was repaid upon maturity on June 30. The company’s outstanding fixed rate debt remains at €176.8 million with an all-in interest rate of 2.05%.

These transactions follow the recently announced sale of two German warehouses for approximately €66.5 million.

Following these completed sales, ASLI’s board has approved a second capital distribution to shareholders under its B Share Scheme, returning approximately £49.5 million. This distribution represents 12 pence per ordinary share.

Shareholders will receive B Shares on July 31 based on their holdings as of the July 30 record date, with an ex-date of July 29. The B Shares will be immediately redeemed at one penny per share, with payment expected by August 13.

The company will not issue share certificates for the B Shares, and no application will be made for them to be admitted to trading on any exchange. The redemption proceeds will be sent to shareholders either through CREST for uncertificated shareholders or via cheque for certificated shareholders.

This announcement is based on a press release statement from the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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