Helical offloads three assets for £21m

Helical announced on Monday that it has completed on the disposal of four assets in two separate transactions for a combined price of £20.7m, representing a 10% premium to the March book value.

The London-listed firm said the first three sales were for three logistics units located in Daventry, Burton on Trent and Bedford, to Custodian REIT for £13.4m, reflecting a net initial yield of 6.75%

A single logistics unit in Stevenage, which is let to DSG, made up the fourth asset, sold to LondonMetric Property for £7.3m, reflecting a net initial yield of 6.25%

“We are pleased to have completed the sale of these properties where we have concluded our asset management plans,” said Helical investment manager Duncan Walker.

“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,” Walker explained.