Helical Bar has completed over £40 mln (EUR 47 mln) of transactions in the UK as it seeks 'to increase cash flow within the portfolio and take advantage of value in the investment market'.
Helical Bar has completed over £40 mln (EUR 47 mln) of transactions in the UK as it seeks 'to increase cash flow within the portfolio and take advantage of value in the investment market'.
The London-based investor and developer has exchanged contracts for the acquisition of the Newmarket shopping centre in Suffolk for nearly £18 mln, representing an initial yield of around 8%. Tenants include Marks and Spencer, Peacocks, and Argos. Allsops and CBRE advised the vendor, Lunson Mitchenall advised Helical.
The company has also disposed of 2-4 Eastcheap and Sawston Trade Park, part of the F3 Portfolio, for over £14 mln and sold the Southampton Trade Park to ING for nearly £5 mln.
'These transactions complement our strategy of increasing cash flow within the portfolio, taking advantage of value in the investment market and selling non income producing property,' said Mike Slade, CEO of Helical Bar. 'The proceeds from these disposals, together with the new equity from our recent successful placement, give us the additional firepower to take advantage of the compelling opportunities we continue to see in the market.'