We advised property developer and investment company Helical Bar on the purchase of a portfolio of nine industrial and office assets for £46.5m from ING Real Estate Investment Management.
The portfolio provides 550,000 sq ft of industrial space and 70,000 sq ft of offices, with around 85% of the portfolio by income located in London and the South East. The purchase price reflects a net initial yield of 9.3%.
Strong income and asset management opportunities
Michael Slade, Helical Bar’s Chief Executive, said: "We will continue to seek out opportunities which offer good value at this stage in the cycle, particularly properties which provide both strong income and considerable asset management opportunities."
Nick Lloyd, Director of Capital Markets, said: "The deal utilised eight of our offices: London, Fareham, Chelmsford, Manchester, Milton Keynes, Cambridge, Guildford and Glasgow. LSH's strong regional platform, combined with specialist industrial and office agency experience, enabled a rapid response and the provision of high-quality detailed advice prior to bid submission.
Experienced in advising on national portfolios
"This is an established specialism at LSH, where our unrivalled national network and experienced Capital Markets team continue to provide acquisition, disposal and strategic asset recovery advice on a number of national portfolios.”