HELICAL MAKES £19.4M OF MATURE ASSET DISPOSALS

RNS Number : 8949U

Helical PLC

24 January 2017

 

24 January 2017

HELICAL PLC

('Helical'/ 'the Company')

HELICAL MAKES £19.4M OF MATURE ASSET DISPOSALS

Helical announces that it has made a further £19.4m of disposals as it continues to see good depth of demand for its high quality, well-let assets.

It has completed on the disposals of:

·     Calver Quay, Warrington, for £4.725m to Cabot Properties.  The 70,000 sq ft logistics property is fully let to two tenants. Helical has recently completed a re-gear on the largest of the two leases.  CBRE acted for the buyer.

·     Chart House, Islington, a 10,000 sq ft single let office building for £7.5m to a private purchaser. Finn and Co acted for the buyer.

In addition, Helical has exchanged contracts on a single let, 21,000 sq ft office building in Cobham to a private purchaser for £7.15m.  LSH acted on behalf of Helical and Tudor Toone acted for the buyer.

In total, Helical will have generated £19.4m of sales proceeds which represents an 11.4% premium to March 2016 book values and a 9% premium to the September 2016 valuation.

Duncan Walker, Investment Director, Helical, commented: "We continue to rotate our mature assets with these sales, demonstrating the strength of investor demand for income producing assets as well as highlighting the effectiveness of our ongoing asset management capabilities."

For further information please contact:

Helical
Duncan Walker/Tim Murphy	Tel: [phone]
FTI Consulting
Dido Laurimore/Tom Gough/Richard Gotla	Tel: [phone]

 

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