Helical Bar buys and sells in the UK for €90m

Helical Bar has announced a number of disposals and small asset acquisitions in the UK as it seeks to recycle capital across its portfolio.

The company has acquired £44.3 mln (€61 mln) of new assets in a number of transactions.

They include Chart House, an office building in Shoreditch acquired for £6.3 mln, with planning consent in place to add an extra floor to the building; Dale House, a 3,900 m2 office building in Manchester’s Northern Quarter which is multi-let to 12 tenants; a retail warehouse unit in Great Yarmouth, and logistics and light manufacturing facilities acquired in four separate transactions at yields of 7.5% and 7.75%.

Helical Bar has also sold a number of assets for €30 mln. These include an office in Uxbridge to Threadneedle Real Estate for £5.4 mln, reflecting a 6.5% yield; an office in Oldham for £2.15 mln sold to a private buyer; a portfolio of four properties to F&C REIT for £13.1 mln, including assets in Plymouth, Peterlee, Nottingham and Colchester.

'These recent purchases demonstrate our continuing ability to find value within the market, blending higher-yielding income deals with more asset management-intensive opportunities for capital gain,' commented Duncan Walker, investment director at Helical Bar.