Helical Bar acquires Stockport retail warehouse
A STOCKPORT retail warehouse let to B&M Bargains has been sold to the property investor Helical Bar.
The 33,000 sq ft unit in Stockport Road, Cheadle Heath was recently taken on by B&M from Homebase on a 10-year lease at £13.28/sq ft.
It has been acquired with a 25,000 sq ft retail warehouse in Harrogate for £12m. The deals represent a net initial yield of 6.9%.
In a stock market statement the vendor was described as a “UK corporate”.
Helical Bar investment director Jack Pitman said: “These two retail warehouse investments represent high quality, long term income, and provide a good balance to our lower yielding central London holdings.”
Cushman and Wakefield acted on behalf of the vendor. Helical Bar was advised by Wilkinson Williams.
