Helical confirms disposals worth £19m

24th Jan 2017 16:31

(ShareCast News) - Helical announced on Tuesday that it has made a further £19.4m of disposals as it continues to see "good depth of demand" for its high quality, well-let assets.The London-listed firm said it has completed on the disposal of Calver Quay in Warrington, for £4.725m to Cabot Properties.It said the 70,000 sq ft logistics property is fully let to two tenants, and Helical had recently completed a re-gear on the largest of the two leases.Helical also completed on the disposal of Chart House in Islington, a 10,000 sq ft single let office building for £7.5m to a private purchaser.In addition, Helical said it has exchanged contracts on a single let, 21,000 sq ft office building in Cobham to a private purchaser for £7.15m.In total, the company will have generated £19.4m of sales proceeds 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 investment director Duncan Walker.