Helical PLC HELICAL SELLS FOUR ASSETS FOR £20.7 MILLION (6313M)
17 October 2016 - 5:00PM
UK Regulatory
TIDMHLCL
RNS Number : 6313M
Helical PLC
17 October 2016
17 October 2016
HELICAL PLC
('Helical'/ 'the Company')
HELICAL SELLS FOUR ASSETS FOR GBP20.7 MILLION
Helical announces that it has completed on the disposal of four
assets in two separate transactions for a combined price of
GBP20.7m 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 GBP13.4m, reflecting a net
initial yield of 6.75%
-- A single logistics unit in Stevenage which is let to DSG sold
to LondonMetric Property for GBP7.3m, 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 Tel: 020 3727 1000
Gough/Richard Gotla
This information is provided by RNS
The company news service from the London Stock Exchange
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