7th Dec 2015 07:58
LONDON (Alliance News) - Property developer Helical Bar PLC on Monday said it has struck a GBP34.2 million deal to acquire a two-acre office complex in Chiswick in west London.
The company has acquired Power Road Studios from Sapcote Developments, with the purchase price reflecting a net initial yield of 4.4%.
The site houses five standalone buildings offering a total of 62,000 square feet and is currently entirely let to a range of tenants, Helical said.
"This acquisition underpins our continued belief in the London market and complements our existing West London portfolio. It offers immediate income, the potential for the creation of additional space and the luxury of choice as to when to implement any construction activity," said Duncan Walker, Helical investment director.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Helical Bar