Helical plc has exchanged contracts to sell individually its three remaining non-core investment assets, for a total consideration of €32.4m (£28.5m), representing a 6.6% premium to the March 2018 book value and reflecting an aggregate net initial yield of 7.6%. The assets include Otford Road Retail Park in Sevenoaks, Spencer House in Reading and The Hub in Glasgow, and have all acquired between 2003 and 2013.
Tom Anderson, Senior Investment Executive at Helical, said: “The sales, achieved at a premium to book value, will allow us to focus our undivided attention on our London and Manchester portfolios, where we are seeing strong occupier demand for our high-quality, well-located office investments and developments.”
Helical was represented by Wilkinson Williams, LSH and Tudor Toone.
