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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Helical Plc | LSE:HLCL | London | Ordinary Share | GB00B0FYMT95 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 198.40 | 198.60 | 199.60 | 208.00 | 191.00 | 207.50 | 90,753 | 16:35:18 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Lessors Of Real Property,nec | 49.85M | -64.51M | -0.5230 | -3.77 | 243.26M |
From Apr 2019 to Apr 2024
TIDMHLCL
RNS Number : 0599F
Helical PLC
15 May 2017
HELICAL AGREES SALE OF CARDIFF'S MORGAN QUARTER FOR GBP55 MILLION
Helical plc has sold The Morgan Quarter, in Cardiff, to LaSalle Investment Management, for GBP55 million. The sale price is in line with Helical's March 2016 book value and reflects a net initial yield of 5.9% and a reversionary yield of 6.9%.
Helical acquired the former David Morgan Department Store and two Victorian arcades in 2005. Since then it has undertaken a substantial value enhancing refurbishment programme, delivering more than 300,000 sq ft of high-quality, award-winning, retail and office space which is let to a number of established retailers and local businesses including White Stuff, Jack Wills, Urban Outfitters and Molton Brown. The Creative Quarter offices were awarded two BCO awards in 2017. An additional 56 residential apartments were built above the retail space and have since been sold.
Duncan Walker, Investment Director, Helical commented: "This significant sale, at an attractive yield, represents the eighth retail asset we have sold since March 2016. In line with our continued repositioning of the portfolio through value-enhancing disposals, our retail investments now comprise just a small number of retail warehouses. Our intention is to recycle the majority of the proceeds of this disposal into our London portfolio."
Helical was advised by JLL; the purchaser by Savills
For further information please contact:
Helical Duncan Walker / Tim Tel: 020 7629 0113 Murphy 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
END
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(END) Dow Jones Newswires
May 15, 2017 02:00 ET (06:00 GMT)
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