23 November 2016
HELICAL PLC
('Helical'/ 'the Company')
HELICAL SELLS SIX ASSETS FOR £26 MILLION
Helical announces that it has completed on the disposal of six distribution warehouses for a combined price of £26m, representing a 7% premium to the March book value.
The six assets, totalling 382,000 sq ft, are located in Havant, Salford, Rugby, Alfreton and two in Northampton and have been sold to LondonMetric Property, reflecting a net initial yield of 6.5% with a weighted unexpired term in excess of seven years.
Duncan Walker, Investment Director, Helical commented; "The sale of this portfolio, at a premium to the March book value, is the culmination of Helical's asset management initiatives and shows our ability to bring some of the portfolio's more mature assets to the market and deliver attractive returns."
Helical was advised by Tudor Toone; the purchaser by Franck-Steier Price.
For further information please contact:
Helical |
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Duncan Walker/Tim Murphy |
Tel: 020 7629 0113 |
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FTI Consulting |
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Dido Laurimore/Tom Gough/Richard Gotla |
Tel: 020 3727 1000 |
