Helical has completed the disposal of four assets in the UK midlands and south east for a combined price of £20.7 mln (€23 mln). The sale represents a 10% premium on the March book value, Helical said.
The properties comprise three logistics units located in Daventry, Burton on Trent and Bedford which were sold to Custodian REIT for £13.4m, reflecting a net initial yield of 6.75%.
A logistics unit in Stevenage, let to DSG, was sold to LondonMetric Property for £7.3m, reflecting a net initial yield of 6.25%.
'We are pleased to have completed the sale of these properties where we have concluded our asset management plans. We remain encouraged by the level of activity in the investment and occupational market despite political uncertainties,' commented Duncan Walker, investment director, Helical.
'Institutional buyers continue to have an appetite for high quality properties in an environment where yield is extremely challenging to find in many investment categories,' added Walker.
Franck-Steier Price represented both purchasers.
