Hansteen's investment push

The property investor Hansteen Holdings and a fund managed by the firm have spent £150m on 88 industrial warehouses formerly owned by the Merseyside-based Spencer Group.

The deal is one of Hansteen's biggest after the company raised £150m to snap up potential bargains earlier this year. It has about £300m in firepower left for further acquisitions. The shares added nearly 4 per cent to 72.4p.