Helical PLC HELICAL SELLS SIX ASSETS FOR £26 MILLION (8839P)
23 November 2016 - 7:00AM
UK Regulatory
TIDMHLCL
RNS Number : 8839P
Helical PLC
23 November 2016
23 November 2016
HELICAL PLC
('Helical'/ 'the Company')
HELICAL SELLS SIX ASSETS FOR GBP26 MILLION
Helical announces that it has completed on the disposal of six
distribution warehouses for a combined price of GBP26m,
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
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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November 23, 2016 02:00 ET (07:00 GMT)