13th Sep 2013 09:59
LONDON (Alliance News) - Property investment firm Helical Bar PLC Friday said it has acquired Huddersfield Retail Park in West Yorkshire for GBP17 million, a net initial yield of 7.2%
Helical said about GBP11 million of the acquisition was funded through its credit facility with Barclays Bank and the remainder from cash resources.
The property was sold by accountancy firm PWC, who are administrating the assets of now defunct Castlemore Securities.
The 96,977 square foot property comprises of two terraces of three units on a 6.5 acre site offering 304 car parking spaces.
The park is also fully let to retailers including Matalan, Dunelm, Aldi and B&M on long leases.
Helical shares were trading at 294.50 pence Friday morning, up 13 pence, or 4.6%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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