Helical Bar goes Christmas shopping
PROPERTY group Helical Bar has acquired four North West assets as part of a £90m investment.
They include a retail warehouse in Leigh, an office building in Cheadle, a B&Q warehouse in Ellesmere Port and an industrial property in Warrington.
The Leigh site was part of a collection of properties sold in two portfolios by Aberdeen Asset Management for £46.6m.
The Cheadle and Warrington buildings were part of the 4:2 Portfolio sold by Ignis for £22.1m, and the 36,300 sq ft Ellesmere Port B&Q was sold by Threadneedle for £5.33m.
Duncan Walker, investment director at Helical Bar, said: “These recent purchases demonstrate our ability to find value within the market, and build on our recent capital recycling activity. The portfolios, in particular, provide plenty of scope for both trading and asset management, as demonstrated by the immediate sub sale of the Southampton office, and we are confident that we will be able to extract further latent value, over time.”