6th Oct 2014 06:49
LONDON (Alliance News) - Helical Bar PLC Monday said it has bought a J Sainsbury PLC regional distribution centre in Bristol in a GBP11.5 million deal.
The acquisition was made via the company's existing cash resources and the asset itself is let to Sainsbury's for 5.25 years, with an aggregate annual rental income of GBP1.3 million.
"This is a high-quality, well-let and well-located distribution warehouse that provides us with future opportunities for asset management and clearly demonstrates our ability to continue to find investment opportunities in an increasingly competitive market. This asset will generate substantial surplus cashflows as we continue to deliver value from our lower yielding London properties," said Helical Bar Investment Director Duncan Walker.
By Sam Unsted; [email protected]; @SamUAtAlliance
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