News Column

Helical Bar Buys Industrial Portfolio For GBP29.7 Million

August 14, 2014

Anthony Tshibangu

LONDON (Alliance News) - Property investors Helical Bar PLC Thursday said it has acquired a portfolio of 11 industrial and distribution warehouse assets from a client of Rockspring Property Investment Managers in a deal worth GBP29.7 million, reflecting a net initial yield of 8.0%.

The portfolio, with a total floor area of circa 460,000 square feet, comprises seven multi-let industrial estates located in Gloucester, Northampton, Milton Keynes, Bedford, Slough and Barking and four single let distribution warehouses properties in Bolton, Telford, Cardiff and Rugby.

Helical Bar said the annual rental income of the 11 assets is GBP2.4 million.

Helical Bar shares were trading flat at 342.50 pence early Thursday.

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Source: Alliance News

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