Helical buys second shopping centre
Published: 01 February, 2011
After signalling its return to the sector before Christmas, Helical Bar has bought the Sutton-in-Ashfield Shopping Centre
Following its purchase of Newmarket Shopping Centre, Helical has now exchanged contracts on the acquisition of Sutton-in-Ashfield Shopping Centre in Leicestershire from LaSalle Investment Management for £16.1m, representing an 8.5 per cent initial yield
The 140,000-sq ft freehold town centre scheme counts New Look, Superdrug, and Argos among its. Green and Partners advised the vendor, Savills advised Helical.
Duncan Walker of Helical Bar, said “We continue to find good opportunities in a difficult investment market where stock picking is key. Recycling our equity to take advantage of wide yield spreads is significantly enhancing the cash flow of our business.”
