Logistics real estate investment company Tritax EuroBox said it had bought land in Sweden and agreed to fund the development of a logistics asset for SEK 402m (£32m).
The investment reflected a net initial yield of 4% based on the income from a 12 month target rental guarantee of SEK 16.4m from completion of construction.
Tritax said it bought the asset, situated next to a development opportunity in Rosersberg in Sweden, in September 2021.
Construction was due to commence in June 2022, with practical completion targeted in May 2023, it added on Monday.
