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Trading statements

Helical successfully meeting milestones

13 July 2017 07:57

Helical saw continued success in meeting its milestones since the start of April and an increased focus of the business on London, offices in Manchester and logistics.

Chief executive Gerald Kaye said: ""Since 1 April 2017 we have received planning consent at Power Road Studios, London W4 and Evesham for new schemes.

"These projects add to our potential to create valuation gains and development profits across our portfolio. We have sold a further 11 residential units at Barts Square, London EC1 during the period.

"This means that almost 90% of the first phase of 144 units has been sold, several months before completion of the first units.

"In Manchester, we completed the purchase of Trinity Court for £12.9m for future redevelopment, taking our ownership in the city to four buildings with an end value of circa £100m, once all asset management is completed.

"Our logistics portfolio comprises 25 buildings where there are several asset management opportunities in the near future.

"In our non-core portfolio, we have reduced our retail investment holdings to just one property with three regional offices also remaining. Sales at the retirement village portfolio have continued to perform strongly and construction is progressing well."

Story provided by StockMarketWire.com

Related Company: HLCL

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