Helical Bar sells three UK sites for £37m

FTSE-listed investment firm Helical Bar has sold three assets in southern England for a total of £37 mln (€46 mln).

The 10,000 m2 Guineas Shopping Centre in Newmarket, Suffolk went to Ignis Asset Management for around €23 mln.

Helical also sold its 53% stake in a 6,000 m2 research facility in nearby Fordham for €20 mln, and its 50% stake in Luminous House, Milton Keynes, to a private investor for €3 mln.

The assets were sold above book value, with an aggregate premium of 6.9%.

‘The South East property market is going from strength to strength with sustained demand from both investors and occupiers for high quality buildings across all asset classes,’ said Duncan Walker, the firm’s investment director.