By Wahida Swaleh
Date: Thursday 14 Aug 2014
LONDON (ShareCast) - Property investment group Helical Bar has acquired a portfolio of 11 warehouses for £29.7m as part of its plan to expand its product portfolio.
Helical has purchased 11 industrial estates totalling 460,000 sq ft from a separate account client of Rockspring Property Investment Managers, reflecting a net initial yield of 8%, discounting one vacant property in rugby.
The total annual rental income of the properties is £2.4m and key tenants include Booker and Parcelpoint. The average weighted unexpired lease term is around 3.8 years to expiry and three years to break.
Investment director Duncan Walker said: "This portfolio combines good cashflow with a number of asset management opportunities to re-gear and re-let the assets. Demand for high-quality, well-let logistics assets in the UK remains robust, driven by strong e-commerce and manufacturing trends, together with the lack of new supply.
The portfolio compromises seven multi-let industrial estates located in Gloucester, Northampton, Milton Keynes, Bedford, Slough and Barking and four single let distribution warehouses properties in Bolton, Telford, Cardiff and Rugby.
As of 10:45 the share price had risen 0.29% to 343.25p.
WS
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Currency | UK Pounds |
Share Price | 238.00p |
Change Today | 7.50p |
% Change | 3.25 % |
52 Week High | 286.50 |
52 Week Low | 185.00 |
Volume | 19,649 |
Shares Issued | 123.36m |
Market Cap | £293.59m |
RiskGrade | 178 |
Value |
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Price Trend |
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Income |
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Growth |
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Strong Buy | 3 |
Buy | 0 |
Neutral | 0 |
Sell | 0 |
Strong Sell | 0 |
Total | 3 |
Latest | Previous | |
---|---|---|
Interim | Final | |
Ex-Div | 30-Nov-23 | 22-Jun-23 |
Paid | 12-Jan-24 | 28-Jul-23 |
Amount | 3.05p | 8.70p |
Time | Volume / Share Price |
16:35 | 6,772 @ 238.00p |
16:35 | 1 @ 238.00p |
16:35 | 246 @ 238.00p |
16:35 | 1,015 @ 238.00p |
16:35 | 3,003 @ 238.00p |
CEO | Gerald A Kaye |
Finance Director | Tim Murphy |
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