Helical Bar buys £50m office and industrial portfolio
Semple Fraser advised Helical Bar on the purchase of a portfolio of nine assets for £50 million from ING Real Estate Investment Management.
The portfolio comprises 550,000 sq ft of industrial space and 70,000 sq ft of offices, with around 85% by income located in London, the south east and east.
The purchase price reflects a net initial yield of 9.3%.
Helical Bar Chief Executive Mike Slade commented:
“This is the second major purchase we have made in the last six months bringing our total acquisitions to £120m in this period.”
“We will continue to seek out opportunities which offer good value at this stage in the cycle, particularly properties which provide both strong income and considerable asset management opportunities.”
Semple Fraser advised on all aspects of the purchase.
For further information please contact: Simon Etchells
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