Business
Helical Completes Sale Of Enterprise House
Helical Completes Sale Of Enterprise House.
About this update from Helical Plc
[{"type":"text","content":"\n \nRNS Number : 3073C Helical Bar PLC 15 October 2015 \n\n15 October 2015\nHelical Bar plc (\"Helical\" or \"Helical Bar\" or the \"Company\")\nHELICAL COMPLETES SALE OF ENTERPRISE HOUSE PADDINGTON, LONDON FOR £43 MILLION\n \nHelical Bar announces the disposal of Enterprise House in Paddington, London W2, to a private overseas buyer for a total consideration of £43 million, a 10% premium to book value. The sale price represents a net initial yield of 4.04% and will be used to repay debt of £30 million with the balance retained for investment in the Company's portfolio.\n \nHelical originally acquired the 45,000 sq ft Art Deco office asset in 2013 in a 20 year sale and leaseback transaction with Network Rail. The asset, which serves as Network Rail's London headquarters, had been comprehensively refurbished by Network Rail in the same year. \n \nDuncan Walker, Helical Bar's Investment Director, commented: \n\"We are pleased to have sold Enterprise House, a mature asset in a strong location within Central London. This disposal enables us to capitalise on the strong London market, freeing up capital to deploy into our other London opportunities which will benefit from Helical's expertise in extracting latent value through development, refurbishment and asset management.\"\n \n ---Ends--- \nFor further information, please contact:\n\n\n\n\nHelical Bar plc\nDuncan Walker / Tim Murphy\n\n\n020 7629 0113\n\n\n\n\nFTI Consulting \nDido Laurimore / Tom Gough / Clare Glynn\n\n\n020 3727 1000\n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCMMMMGVDLGKZM\n ","length":3399,"tagName":"div"}]