Helical has announced a further £19.4 mln (€22.6 mln) of mature asset disposals in England. The London-listed property investment and development company said it 'continues to see good depth of demand for its high quality, well-let assets'.
The company has sold Calver Quay, a 6,500 m2 logistics property in Warrington, for £4.7 mln to Cabot Properties. The buyer was represented by CBRE. The building is fully let to two tenants. Helical has recently completed a re-gear on the largest of the two leases.
Helical has also sold Chart House, a 929 m2 single-let office building in Islington, London (pictured). The property was bought for £7.5 mln by a private purchaser, represented by Finn and Co.
The third and final disposal was that of a 1,950 m2 office building in Cobham, sold to a private buyer for £7.15 mln. The buyer was represented by Tudor Toone, while LSH acted on behalf of Helical.
The asset disposals have generated £19.4 mln in total for Helical, which represents an 11.4% premium to March 2016 book values and a 9% premium to the September 2016 valuation.
'We continue to rotate our mature assets with these sales, demonstrating the strength of investor demand for income producing assets, as well as highlighting the effectiveness of our ongoing asset management capabilities,' said Duncan Walker, investment director at Helical.
