Source - RNS
RNS Number : 6313M
Helical PLC
17 October 2016
 

17 October 2016

HELICAL PLC

('Helical'/ 'the Company')

HELICAL SELLS FOUR ASSETS FOR £20.7 MILLION

 

Helical announces that it has completed on the disposal of four assets in two separate transactions for a combined price of £20.7m representing a 10% premium to the March book value.

The sales were as follows:

·     Three logistics units located in Daventry, Burton on Trent and Bedford to Custodian REIT for £13.4m, reflecting a net initial yield of 6.75%

·     A single logistics unit in Stevenage which is let to DSG sold to LondonMetric Property for £7.3m, reflecting a net initial yield of 6.25%

 

Duncan Walker, Investment Director, Helical commented; "We are pleased to have completed the sale of these properties where we have concluded our asset management plans.  We remain encouraged by the level of activity in the investment and occupational market despite political uncertainties.  Institutional buyers continue to have an appetite for high quality properties in an environment where yield is extremely challenging to find in many investment categories."

Franck-Steier Price represented both purchasers.

 

For further information please contact:

Helical


Duncan Walker/Tim Murphy

Tel: 020 7629 0113



FTI Consulting


Dido Laurimore/Tom Gough/Richard Gotla

Tel: 020 3727 1000

 

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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