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.
It also recently sold leisure development the Morgan Quarter in Cardiff to La Salle Investment Management for £55m.
According to EG data, in H1 2017 £1.2bn was invested into retail park assets.
Savills and BCM represented La Salle Investment Management; Wilkinson Williams advised Helical.
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