Business
Acquisition of two retail warehouses for ?12m
Acquisition of two retail warehouses for ?12m.
About this update from Helical Plc
[{"type":"text","content":"\n \nRNS Number : 1921S Helical Bar PLC 22 September 2014 \n \n\n \n22 September 2014 \nHelical Bar plc (\"Helical Bar\" or the \"Company\")\n \nHELICAL BAR ACQUIRES TWO RETAIL WAREHOUSES IN £12 MILLION TRANSACTION \n \nHelical Bar today announces the acquisition of two modern leasehold retail warehouses located in Harrogate and Stockport from a UK corporate vendor for £12.082 million, reflecting an overall net initial yield of 6.95%. The units are held on 999 year leases at a peppercorn rent.\n \nThe 25,250 sqft Harrogate unit, located in Hookstone Chase is let to Currys/PC World at a current rent equating to £18.38 per sq ft for a further 11 years. The 33,323 sq ft Stockport unit, located in Stockport Road, Cheadle Heath is let to B&M (just assigned from Homebase) on a new 10 year lease at a rent of £13.28 per sq ft. \n \nCommenting, Jack Pitman, Investment Director, Helical Bar, said:\n\"These two retail warehouse investments represent high quality, long term income, and provide a good balance to our lower yielding central London holdings.\"\n \nCushman and Wakefield acted on behalf of the vendor. Helical Bar was advised by Wilkinson Williams.\n \n \n- ENDS -\nFor further information, please contact:\n\n\n\n\nHelical Bar plc\nTim Murphy / Duncan Walker \n \n\n\n020 7629 0113\n\n\n\n\nFTI Consulting \nStephanie Highett / Dido Laurimore / Nina Legge\n \n\n\n020 3727 1000\n \n \n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQLLMRTMBIBBRI\n ","length":3307,"tagName":"div"}]