Helical Bar deals worth over £40m

15th Dec 2010 07:53

Property investor Helical Bar is in deal mode, selling almost £23m of assets and buying Newmarket Shopping Centre in Suffolk for £17.75m.The company, which last week raised £29m from a placing at 270p a share, said the wheeling and dealing was in line with its strategy to increase cash flow within the portfolio and take advantage of value in the investment market.It raised £9.5m from the sale of 2-4 Eastcheap in London, £5.4m from the Sawston Trade Park, £4.8m from Southampton Trade Park and £3m for non-income producing land at Southall. "The proceeds from these disposals, together with the new equity from our recent successful placing, give us the additional firepower to take advantage of the compelling opportunities we continue to see in the market," chief executive Mike Slade said.