Helical has sold its retirement villages portfolio to Legal & General for £102m.
Helical said that as part of the transaction it had transferred the £46m of debt secured against the portfolio to the purchaser and would receive 50% of the total net sale proceeds of £51m on completion, with the remainder deferred for 12 months.
The portfolio comprises four retirement villages located at Liphook in Hampshire, Faygate in West Sussex, Exeter in Devon and Great Alne in Warwickshire.
Helical said the villages were at varying stages of development but on completion, the four schemes would deliver 694 units in total.
At 9:34am: (LON:HLCL) Helical Bar PLC share price was -3.62p at 306.13p