Member Article

Helical completes £19.4m of asset disposals

London-headquartered property film, Helical, has revealed that it has completed £19.4m of asset disposals.

The firm said in a statement to the stock exchange this morning, that it had sold its Chart House development in Islington to a private purchaser, who had agreed to pay £7.5m for the 10,000 sq ft single let office building.

Other disposals included its Calver Quay, 70,000 sq ft logistics facility in Warrington which Helical have sold to Cabot Properties for around £4.7m after completing a re-gear on the largest lease at the building.

The third and final disposal has seen the property firm exchange contracts on a 21,000 sq ft office building in Cobham which is has agreed to sell to another private purchase for £7.15m.

In total, the disposals of the ‘mature assets’ have boosted Helical’s coffers to the tune of £19.4m which it claims represents a 11.4% premium on March 2016 book values and a 9% premium on September 2016 valuations.

Duncan Walker, Investment Director, Helical, commented: “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.”