Helical has sold London Road Retail Park, Southend on Sea, to George Capital Real Estate Fund for £14.2m – a 7.75% yield.
The 74,954 sq ft property’s tenants includes Homebase, Currys Pc Worlds and Pets at Home. It has an average weighted unexpired lease term of just under five years.
Helical has been repositioning its portfolio away from retail and leisure to focus more on its London assets.
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Including:
Prima, Real Living and Cantay Estates have received funding for 189-bed PBSA
Katy Davis named as an equity partner at the firm
The site will be turned into 261 short stay serviced bedrooms
Rising remote and video appeals offer an opportunity to reduce space
