Helical has completed its transformation programme and is now focused on London and Manchester following the sale of its remaining non-core assets.
The listed property firm is selling its three remaining non-core investment assets in separate deals for a total consideration of £28.5m (€32.6m).
Helical said the assets are Otford Road Retail Park in Sevenoaks, Spencer House in Reading and The Hub in Glasgow.
Tom Anderson, a 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.”
In the last two year, Helical been working on transforming itself from a multi-sector, geographically spread UK property company, into an office-led investment and development company focused purely on London and Manchester.
As part of the plan, Helical ended its investment in the logistics sector with the sale of a logistics portfolio to funds managed by Blackstone and M7 Real Estate in March this year. The company has also exited its retail and retirement village sectors.
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