6th Mar 2018 10:14
The Magnus Portfolio comprises 20 logistics assets nationwide covering a collective 2.27 million square feet. It consists of 17 single-let and three multi-let assets, gathered through portfolio and individual acquisitions throughout 2014 and 2015.
The price achieved is a 14% premium to the book value as at September and net proceeds will go towards reducing debt and annual finance costs.
"This is a significant sale for Helical, bringing to an end our investment in the logistics sector. The price achieved reflects the structural shift towards e-commerce, strength of occupier demand, shortage of supply and rental growth prospects," said Senior Investment Executive Tom Anderson.
Shares in Helical were up 3.5% at
Related Shares:
Helical Bar