LONDON (ShareCast) - Property investment group Helical Bar announced it has acquired 10 properties from IM Properties for a total of 40.15m pounds reflecting an 8.35 per cent net initial yield.

The annual rental income from the 10 assets is £4.07m and key tenants include National Grid, clothing retailer Next, DHL and JD Sports Fashion.

The portfolio, which has a total floor area of 633,000 sq ft and modern logistics facilities in Burton on Trent, Daventry, Leicester, Rugby and Doncaster, are all located close to major motorway networks.

Duncan Walker, Investment Director, said: "We continue to find good value opportunities in an increasingly competitive market.

"This portfolio provides good cash flow and exposure to a market with strong occupational demand and limited new supply, while also providing us with opportunities to add income and capital value through letting up space and accretive asset management initiatives."

As of 14:38 the share price had risen 1.53% to 355p.

WS

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