Helical has sold six distribution warehouses for £26m, 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 of Helical said: “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, while Franck-Steier Price acted for LondonMetric.
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