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Helical makes sales totalling £19.4m

24 January 2017 09:57

Helical has made a further £19.4m of disposals as it continues to see good depth of demand for its high quality, well-let assets.

Helical said it had completed on the sale of:

- Calver Quay, Warrington, for £4.725m to Cabot Properties. The 70,000 sq ft logistics property is fully let to two tenants.

Helical has recently completed a re-gear on the largest of the two leases.

- Chart House, Islington, a 10,000 sq ft single let office building for £7.5m to a private purchaser.

Helical has also exchanged contracts on a single let, 21,000 sq ft office building in Cobham to a private purchaser for £7.15m.

In total, Helical will have generated £19.4m of sales proceeds which represents an 11.4% premium to March book values and a 9% premium to the September valuation.

Investment director Duncan Walker said: "We continue to rotate our mature assets with these sales, demonstrating the strength of investor demand for income producing assets as well as highlighting the effectiveness of our ongoing asset management capabilities."

At 9:57am: (LON:HLCL) Helical Bar PLC share price was +0.25p at 300.25p

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