17th Jan 2014 08:37
LONDON (Alliance News) - Helical Bar PLC Friday said it has sold 10 The Hayes in Cardiff to the Henderson UK Property Unit Trust in a deal worth GBP14.8 million.
The property, which comprises 68,477 square feet of modern retail premises in the centre of Cardiff, is currently let to high-street retailer TK Maxx until 2021.
Helical has owned the property as part of its wider retail interest in Cardiff, including The Morgan Quarter, The Hayes and St Mary Street, since 2005 and it was subject to a substantial redevelopment in 2006.
The disposal price represents a net initial yield of 5.8%, it said.
Helical Bar shares were flat at 357.25 early Friday.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Helical Bar