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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 | |
---|---|---|---|---|---|---|---|---|---|---|
3.00 | 1.48% | 205.50 | 204.00 | 205.50 | 206.00 | 201.50 | 204.50 | 52,418 | 16:35:06 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Lessors Of Real Property,nec | 49.85M | -64.51M | -0.5230 | -3.90 | 251.64M |
TIDMHLCL
RNS Number : 0340K
Helical PLC
11 December 2018
11(th) December 2018
HELICAL PLC
('Helical'/ 'the Company')
HELICAL DISPOSES OF BOOTH ST OFFICE BUILDING, MANCHESTER
Helical plc announces that it has exchanged contracts on the sale of its 31 Booth Street office building in Manchester, to the Mayfair Capital-managed Property Income Trust for Charities fund (PITCH), for GBP11.925 million (GBP479 psf), reflecting a net initial yield of 5%. Following the successful letting of 46% of the office space since 30 September 2018, the sale represents a 20.5% premium to book value.
Located in the prime city core of Manchester, Helical acquired the property in January 2016. Following a complete refurbishment, the building comprises 24,902 sq ft of modern office space across 7 floors. The property is 100% let to nine occupiers.
Will Parry, Asset Management Executive at Helical, commented:
"This disposal demonstrates our ability to successfully reposition assets by leveraging our local market expertise. The capital will be recycled into new opportunities."
Mayfair Capital Investment Director, Phil Sturdy, commented:
"This acquisition is aligned to our thematic investment strategy of acquiring Grade A office space in strong strategic locations. 31 Booth Street is particularly well placed for future income growth with a low passing rent, numerous lease events in the next three to five years and seven of the leases having been granted outside the 1954 Act."
Helical plc was advised by Savills, Mayfair Capital by CBRE.
For further information please contact:
Helical
Gerald Kaye/Tim Murphy/Will Parry
Tel: 020 7629 0113
www.helical.co.uk
@helicalplc
FTI Consulting
Dido Laurimore/Tom Gough/Richard Gotla
Tel: 020 3727 1000
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
December 11, 2018 02:00 ET (07:00 GMT)
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