Helical plc announces that it has exchanged contracts to sell individually its three remaining non-core investment assets, for a total consideration of £28.46 million, representing a 6.6% premium to the March 2018 book value and reflecting an aggregate net initial yield of 7.6%.
The assets are Otford Road Retail Park in Sevenoaks, Spencer House in Reading and The Hub in Glasgow, all acquired between 2003 and 2013.
Tom Anderson, Senior Investment Executive at Helical, said: “The sales, achieved at a premium to book value, will allow us to focus our undivided attention on our London and Manchester portfolios, where we are seeing strong occupier demand for our high-quality, well-located office investments and developments.”
Helical was represented by Wilkinson Williams, LSH and Tudor Toone.
For further information please contact:
Tom Anderson/Gerald Kaye Tel: 020 7629 0113
Dido Laurimore/Tom Gough/Richard Gotla Tel: 020 3727 1000