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Nick Hill

Trio of logistic facilities sold in £20m deal

Helical, the London-based property developer, has completed the sale of three logistics facilities for a total of £20.25m.

The assets are Aspect Way in Doncaster (122,600 sq ft), Sandal Stones Road in Doncaster (153,500 sq ft) and Wyatt Way, Thetford (127,600 sq ft).

Helical completed the sale of the assets to a fund managed by Clearbell Capital LLP.

The property developer said that the sale, at a combined 4% premium to September 2017 book value, is “in line with Helical’s strategic shift to concentrate on office developments and investments in London and Manchester.”

Tom Anderson, senior investment executive at Helical, commented: “These recent sales are another step along the way for Helical as we focus our portfolio on primarily office-led activity within London and Manchester.

“The sale follows a series of non-core disposals including our retirement living and retail assets.”

CPP Partners acted for Helical.

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